The Ohio Casino Control Commission (OCCC) has released its March 2024 revenue report, revealing a notable surge in revenue for the month. The combined taxable revenue from the state’s four casinos amounted to over $94.7 million, marking a significant 13.4% increase from February 2024’s gaming revenue of $83.5 million.

Moreover, there’s a modest 1.4% annual rise in revenue compared to the previous year. It’s worth noting that this revenue encompasses earnings from both slots and table games and excludes in-person sports betting, as online casinos are not yet legalized in Ohio.

While Ohio has yet to legalize online casinos, recent discussions among lawmakers suggest a potential shift in this landscape. Lawmakers have convened to deliberate on the feasibility of legalizing online casinos, citing the state’s interest in this burgeoning sector and the thriving markets already established in neighboring states like Michigan, Pennsylvania, and West Virginia.

Monthly Revenue Surge Across Ohio Casinos

The OCCC’s March 2024 revenue report indicates across-the-board monthly revenue increases for all four casinos. Of the total taxable revenue of $94.7 million, slot revenue contributed $69.0 million, with table games bringing in $25.7 million. Notably, Hollywood Columbus demonstrated the most substantial monthly progress, with a revenue of $25.6 million, reflecting a robust 13.3% monthly growth. Other casinos also saw notable increases in revenue compared to the previous month:

• Jack Cleveland Casino: $24.5 million in revenue, a 13.3% monthly rise
• Hollywood Toledo: $22.5 million in revenue, a 16.8% monthly increase
• Hard Rock Cincinnati: $22.2 million in revenue, up by 10.5% from February

Annual Revenue Trends

Examining the year-over-year performance, there are varied trends among the casinos. Hollywood Toledo and Hollywood Columbus both reported annual rises, with increases of 8.2% and 5.1%, respectively. Jack Cleveland Casino saw a marginal annual increase of 0.4%. However, Hard Rock Cincinnati experienced a notable annual decline of nearly 7.5%, the only casino to do so in March. This contrasts with February, where Jack Cleveland Casino had shown a year-over-year decline.

Recent discussions among Ohio lawmakers have revolved around the possibility of legalizing online casinos. The Study Commission on the Future of Gaming in Ohio, in its initial meetings, has delved into the topic, with upcoming sessions slated to address various aspects, including iLottery, racinos/charitable gaming, sports betting, and daily fantasy sports. Proponents argue that regulating online casinos could aid in addressing issues related to problem gambling while potentially generating significant tax revenue for the state. Estimates suggest that Ohio could generate between $205 million and $410 million annually in new tax revenue if online casinos were legalized.

The success and revenue generated by neighboring states like Michigan and Pennsylvania, where online casinos are thriving, serve as compelling examples for Ohio lawmakers. With these states raking in substantial tax revenues from iGaming, the pressure mounts for Ohio to consider legalizing online casinos, possibly in the near future or by 2025.

Source: “Ohio Casino Control Commission. “Monthly Revenue Report: March 2024.” [pdf]

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Petersburg is once again placing its bet on a casino referendum, now landing on the legislative floor of the 2024 Virginia General Assembly. This time, the city is armed with influential backers and a revamped Senate Bill 628, seeking to redefine the criteria for the host city.

Senators Aird and Lucas Spearhead Key Changes in Casino Bill

While not explicitly earmarking Petersburg as the fifth casino host city, the bill, championed by newly appointed Sen. Lashrecse Aird, D-Petersburg, and Senate Finance & Appropriations Committee chair Louise Lucas, D-Portsmouth, proposes significant amendments to the host city requirements, reported The Progress-Index. 

Notably, the population threshold is discarded, and adjustments to tax-exempted real estate and poverty rate criteria are proposed. Additionally, a new stipulation mandates that the host city must have experienced an unemployment rate of at least 13% in 2020.

In 2020, Petersburg’s unemployment rate stood at a staggering 21.1%, aligning seamlessly with the newly introduced criterion. The inclusion of such factors aims to tailor the bill to Petersburg’s unique circumstances and economic needs.

Sen. Lucas, who previously opposed Petersburg’s casino ambitions, has surprisingly thrown her weight behind the latest effort. In an unexpected turn, she acknowledged that her past reservations were influenced, in part, by the approach of Sen. Joe Morrissey, whom Aird defeated in the Democratic primary last June.

Lucas, who chairs the influential Senate Finance & Appropriations Committee, had been a formidable obstacle in the prior two legislative sessions. Her support this time around significantly bolsters the casino’s chances. Lucas represents the district encompassing Rivers Casino in Portsmouth, one of the three operational casinos in the state.

Petersburg’s Casino Bid Gains Momentum After Facing Hurdles

The push for a Petersburg casino has been a recurring theme in recent years. Following Richmond’s rejection in 2021, Petersburg eagerly stepped into the fray but faced consecutive setbacks in the 2022 and 2023 legislative sessions. Morrissey and Del. Kim Taylor, R-Dinwiddie County, championed the cause unsuccessfully.

This year, Taylor has opted to lend her support to Senate Bill 628 rather than introducing a separate House companion. She emphasized the significance of consolidating efforts and conveyed that having a single introductory bill enables energies to be concentrated in one place on one bill. Taylor affirmed her commitment to ensuring that voters in the 82nd District have a voice in the matter.

The legislative journey for Senate Bill 628 mirrors past sessions, with hearings scheduled in the Senate General Laws & Technology Committee, chaired by Aird, and subsequently in Senate Finance & Appropriations, chaired by Lucas.

In a departure from previous proposals, the Aird-Lucas bill omits language favoring Native American tribes in Virginia. Norfolk‘s proposed HeadWaters Casino, supported by the Pamunkey tribe, will no longer receive preferred consideration.

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An ambitious project with a price tag of nearly $400 million is expected to revitalize North Las Vegas. The project is planned to use the land that was formerly the home of Station Casinos’ Texas Station and Fiesta Rancho hotel casinos. The two properties, owned by the leading gaming and entertainment company were shut down back at the start of the pandemic early in 2020. The site of the former Fiesta Rancho and Texas Station is expected to be the new home of a mixed-use project that will feature residential units, hotel rooms and other amenities.

Agora Realty and Management, a leading real estate developer, confirmed its plans to invest in the area. Last week, the company announced via its website that it closed escrow on the 73-acre site located at Lake Mead Boulevard and Rancho Drive for approximately $59 million. “The demolished site where the Texas Station and Fiesta Rancho hotel-casinos once stood will soon see the beginning of a new development after the lot was sold Thursday,” explained Agora Realty and Management.

Ryan Lefton, Agora Realty and Management’s chief of operations, who was recently cited by the Las Vegas Review-Journal, revealed that the price tag of the new project is approximately $380 million. As a three-phased project, the construction is expected to start early next year. Based on current estimations, the project is expected to be finalized by the end of 2025.

The Site Would Offer Residential and Hotel Units, Additional Amenities

The project called, Hylo Park, gained traction earlier this year after the company submitted a request for rezoning the land from a resort commercial to a mixed-use with the North Las Vegas Planning Commission. The request, submitted early in July, was greenlighted in August following a unanimous voting of the Commission.

Speaking on the topic, Lefton said: “Through this acquisition, we are thrilled to expand our footprint in the vibrant city of North Las Vegas.” Moreover, he pointed out: “We eagerly anticipate contributing to the community and fostering growth and opportunities in this dynamic landscape.”

The project is expected to offer more than 660 residential units, along with a childcare center, shops and recreational and entertainment areas outdoors. Additionally, Agora Realty and Management’s project is expected to offer 150 hotel rooms, different retail and food and beverage outlets. The mixed-use project is also planned to offer two ice rinks.

Ultimately, the project is expected to play a vital role in the revitalization of North Las Vegas by creating new jobs and economic stimulus for the region.

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In 2022, the Menominee Tribe in Wisconsin announced it joined forces with Hard Rock International for a new project that seeks to develop a new gaming and entertainment location in the city of Kenosha. The project has a price tag of $350 million and is expected to use some 60 acres of land located west of Interstate 94. The new gaming and entertainment resort is expected to boost tourism, local businesses and bring tax revenue for the state and the city. Additionally, the project, if approved, is expected to create new workplaces.

Last week, the Kenosha City Council voted in favor of giving the casino project final consideration for an agreement. An overwhelming majority of 12 members voted in favor of the final consideration while only three members voted against it, a report released by Kenosha News reveals. After this approval, the subject will be once again up for consideration at a meeting scheduled for November 20, 2023.

During the recent voting on Thursday, Hard Rock International’s regional president, Matt Schuffert, revealed that the project is expected to create 1,000 new full-time workplaces, offering an average hourly pay of $20. He predicted that the new casino and entertainment resort would generate annual revenues between $250 million and $295 million. Schuffert added: “The intergovernmental agreement calls for a total of about 5% of the net gaming revenue to go back to the city and the county,” explaining that annual revenue is expected to be in the ballpark of $12 million to $15 million.

Besides tax revenue, the new casino project is expected to bring benefits in the form of additional payments. Such payments are expected to provide vital funding for different state initiatives, helping public schools, museums and first responders.

Not Everyone Agrees with the Proposed Casino Project

At the recent meeting, Council members Kelly MacKay, Holly Kangas and David Mau voted against the proposed casino project. Citing witnessing the negative impact of gambling addiction, MacKay said he couldn’t cast a vote supporting the new casino and entertainment location planned to be developed on the west side of the city of Kenosha.

He was joined by more than two dozen people who also voiced their concerns during the recent public hearing. Many of the people who rejected the proposed casino project warned about crimes related to gambling. Notably, most of the people were concerned about the possible increase in addictions that can impact local communities.

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Earlier this year, North Carolina legalized mobile sports betting. While the activity is expected to launch as planned, at some point by mid-2024, further efforts for the expansion of gambling activities were also seen recently. One such effort calls for the legalization of new casinos through the state budget.

A gambling proposal that is a part of the state budget, supported by Senate leader Phil Berger, seeks to authorize new casinos across North Carolina. Although the proposal may gain traction, considering that it is a part of the budget, it may also reach a dead end. Earlier this week, House Speaker Tim Moore addressed the gambling proposal that is a part of the state budget.

He explained that the way this proposal is pushed forward makes it “doomed.” Moore revealed that while it makes sense to legalize more casinos, just like the state’s plan for sports betting, the gambling proposal is unlikely to lift off. This is primarily because there were no details released before the state budget was made public, making it difficult for some lawmakers to support it.

Additionally, considering the way the budget is voted on, there can be no amendments made. According to Moore, this is precisely why the gambling proposal is unlikely to progress this year. He said that while a proposal to expand gambling might have gained traction as a separate bill, it is unlikely for the current one to progress.

“There were people (legislators) who probably would have supported it as a standalone bill who just felt like the way it was being done and not having any input in it, didn’t work.“

House Speaker Tim Moore

Efforts for Casino Expansion to Continue in 2024

While the future of casino expansion remains uncertain this year, Moore predicted that efforts may resume next year as well. Still, according to him, lawmakers that support the expansion would need to work on its promotion across North Carolina. This would be crucial for the success of the gambling expansion, added Moore, explaining that he himself won’t be “carrying the water on.”

The expansion of casino gambling in North Carolina is expected to introduce four new venues. Three venues are expected to be established in Anson, Rockingham and Nash counties. The fourth location is expected to be a tribal casino.

If North Carolina expands its gambling options, it is expected to benefit from fresh tax revenue. At the same time, new casinos would help boost tourism and visitations, while creating temporary and permanent jobs that are likely to positively impact communities.

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The repeal of the Professional and Amateur Sports Protection (PASPA) dating to May 2018 marked the start of sports betting expansion in the United States. That expansion has been rapid as lawmakers in different states identified the benefits legal sports wagering can bring such as tax revenue, support for local teams and reduction of illegal offering. Five years into the expansion of betting, now, more than 30 US states offer the activity, while few are in the process of legalization.

North Carolina would be one of the latecomers into the mobile sports betting vertical, although it won’t be the last state to introduce such activities. This legislative season, a proposal has been gaining traction in the Tar Heel state, planning to introduce mobile sports betting and expand retail activities at the start of the new year. Only recently, the North Carolina state Senate passed the proposal, calling for the legalization of betting on horse racing, professional, college and other sports.

Now, legalization has never been closer, given that the state’s General Assembly greenlighted the proposal Wednesday. In a 68-45 vote, the bill successfully cleared the House. This pushed the proposal further to its final destination, as it will now require the signature of North Carolina Gov. Roy Cooper. Once Cooper signs the bill into law, North Carolina will set a date for the expansion of its sports betting market.

Mobile Betting Expected Early in 2024

The bill would significantly expand sports betting in the state, which is currently limited to only three land-based casinos run by Tribal operators. But under the bill, North Carolina would open up to mobile sports wagering and expand retail betting options.

Per the proposal, the state’s Lottery Commission would be in charge of licensing and will be able to award up to 12 mobile sports betting licenses. However, there’s a restriction implemented that requires eight of 12 licenses to be tied to retail sports wagering outlets. Still, this leaves four licenses for mobile betting operators that aren’t tied to a retail outlet.

Given the recent traction of the proposal, it is likely residents in North Carolina to have a chance to place legal mobile bets early in 2024. The bill’s effective date is January 8, 2024. Yet, under the proposal, the Lottery Commission can set a different date within 12 months of the bill becoming law. In other words, if everything goes as planned and Gov. Cooper signs the bill into law, residents in the state may be able to wager on sports legally before the next Super Bowl.

The legislation plans an 18% tax on gross gaming revenue for sports betting operators. Early estimations predict that for the first three years of the activity, some $100 million in tax revenue would be raked by bets that may exceed $6.6 billion. Similar to other states, North Carolina plans to use the tax revenue to support sports programs, fund gambling education and addiction programs, as well as other programs.

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