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25

Feb2020

Penn National – Barstool Deal Breakdown

/ Other Gaming
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 ... Read More

21

Feb2020

Sports Betting in Ohio Not If but When

/ Other Gaming
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 ... Read More

19

Feb2020

Ohio Casinos and Racinos See Record Highs in January 2020

/ Casino
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 ... Read More

21

Jun2019

But Is Sports Betting Really Worth It?

/ Other Gaming
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. ... Read More

19

Jun2019

Sports Betting in Neighboring States

/ Other Gaming
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 ... Read More

17

Jun2019

Dueling Sports Betting Bills Introduced

/ Other Gaming
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 ... Read More

14

Jun2019

JACK Cincinnati to be Sold

/ Casino
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 ... Read More

18

Apr2019

Internet Cafes Continue to Fly Under the Radar

/ Lottery
Sweepstakes cafes were all the rage in the early 2010s. A law enacted in 2013 seemingly put them out of business by banning cash prizes. 2013 and 2014 saw a statewide crackdown on these illegal gambling establishments. In 2014 the Ohio General Assembly gave the Ohio Casino Control Commission (OCCC) ... Read More

08

Apr2019

Skill Game Forfeitures

/ Other Gaming
In July 2018, Federal law enforcement and the Ohio Casino Control Commission executed a number of search warrants in Stark County. Sixteen individuals and eight businesses were accused of illegal gambling. Now it appears the Feds are looking to cash in on those raids. The U.S. Attorney for the Northern District ... Read More

04

Apr2019

Hard Rock Rocksino Now MGM Northfield Park

/ Casino
Name change was effective April 1. MGM Resorts International purchased the operating assets of Hard Rock from its sister company MGM Growth Properties, which purchased Hard Rock in 2018 for $1 billion. This is the largest racino in Ohio. Facilities also underwent name changes. The Hard Rock Café is now the TAP ... Read More