Ohio Gaming Law
Recent Blog Posts
- Another Update on Sports Betting in Ohio Last week, a substitute Senate Bill 176 was introduced, which made a litany of changes to Ohio’s proposed sports betting industry. And today, a few days after those changes were introduced, an omnibus amendment was passed to make even more changes to the bill, which was referred out of the Ohio Senate over to the House. Here is a summary of some of the most significant changes.
The Lottery is Out, but Bars and Restaurants are In
The sports gaming lottery... More
- Substitute Bill Already in the Works for Sports Gaming Less than a week after Senate Bill 176 (“SB 176”) was introduced, significant changes have been made and will be introduced via a substitute bill soon. At the first hearing of the Senate Select Committee on Gaming since SB 176 was introduced, sponsors Manning and Antani announced a substitute bill will be introduced soon, which will make several key changes.
Sports Gaming Facility + Casinos/Racinos
One of the changes is to authorize casinos or racinos that receive a Type B license (brick... More
- Sports Gaming Legislation Introduced in Ohio Ohio’s newest omnibus gaming bill was introduced on Thursday, May 6. Senate Bill 176 (“SB 176”) covers a range of topics, including the authorization of sports betting, the creation of a sports betting pool within the lottery, online sports gaming, authorization of electronic instant bingo, and also established a committee to study the potential effects of online lottery ticket sales (known as iLottery) on retail ticket sales in Ohio. Upon analyzing the wide breadth of topics (SB 176 is more... More
- Penn National – Barstool Deal Breakdown The last week of January brought news of a unique deal between casino operator Penn National Gaming, owner of two casinos and two racinos in Ohio, and Barstool Sports.
Penn National will make an initial investment of $163 million for a 36% interest in the Barstool Sports media company. The initial $163 million investment consists of approximately $135 million in cash and approximately $28 million in shares of non-voting convertible preferred Penn stock.
Additionally, under the terms of the deal, Penn will... More
- Sports Betting in Ohio Not If but When Last year, two competing bills were introduced that would authorize and regulate sports betting in Ohio. House Bill 194 was introduced by Representatives Dave Greenspan and Brigid Kelly. Senate Bill 111 was introduced by Senators John Eklund and Sean O’Brien. The House bill received eight hearings in 2019 while the Senate Bill only received two but neither has received a hearing since the first week of November 2019.
While the process has slowed down in Ohio it is highly unlikely that... More
- Ohio Casinos and Racinos See Record Highs in January 2020 The first month of 2020 was an exceptional one for Ohio’s casinos and racinos which shattered their previous January record high for gambling revenue. The casinos and racinos combined for $167 million in gambling revenue up 19% from the previous high set last year of $140.7 million. Each year the casinos and racinos have increased their January gambling revenue over the previous year but never by such a high margin.
Hollywood Casino Columbus had the best January of Ohio’s Casinos bringing... More
- But Is Sports Betting Really Worth It? Six states started sports betting in 2018. Revenues fell short of projections in four of the states. Several reasons why. Among them – slower than expected rollout, lack of online betting and even the Super Bowl.
Rhode Island projected monthly revenues of $1 million. The reality – about $50,000 a month. Rhode Island is the only New England state that offers sports betting. Who’s going to bet against Tom Brady and the Pats who, as expected, covered the spread in a... More
- Sports Betting in Neighboring States While Ohio mulls over legalizing sports betting, virtually every surrounding state either has a law on the books or proposed legislation on the fast track.
Pennsylvania and West Virginia have already legalized sports betting.
In Kentucky, a House panel has passed a bill that would allow sports betting at approved locations such as a licensed horse racing track or the Kentucky Speedway. In person and via an app would be permitted. The bill still has to make its way through the rest... More
- Dueling Sports Betting Bills Introduced The Ohio House and Senate have each introduced their own version of how sports betting should be regulated in the state. The Senate came first, introducing Senate Bill 111 in March. The House followed by introducing House Bill 194 in early April. There are differences between the two bills. Among the differences:
The Senate bill calls for the Ohio Casino Control Commission (OCCC) to regulate sports betting, where revenues would go to the state’s General Revenue Fund. The House bill... More
- JACK Cincinnati to be Sold Hard Rock International and VICI Properties have agreed to purchase the JACK Cincinnati casino and Turfway Park for $780 million. Hard Rock, which will run operations at both establishments, will buy JACK Cincinnati. VICI Properties will buy Turfway Park, which is located in Florence, KY. VICI will enter into a leased fee agreement with Hard Rock. The deal is expected to close in late 2019.
JACK Cincinnati had a record year in 2018 with revenue of $203.5 million, but still lagged... More