Lake County benefits from Ohio casino taxes

Lake County benefits from Ohio casino taxes

Lake County received US$723,114 from the first quarterly disbursement from Ohio casino taxes.

During the first quarterly disbursement, the county received over US$700k raked from Ohio casino taxes during 2018.

US.- The gaming industry is a top contributor for state coffers worldwide and one Ohio county knows it better than most. Lake County received US$723k from the first quarterly disbursement, coming from 2018 Ohio casino taxes.

Ohio’s four casinos and seven racinos generated US$1.87 billion in net revenue during 2018. That’s the highest total since legalised gambling kicked off in 2012, which helped local counties.

“If we weren’t getting this money, we would have to make significant cost-reduction moves,” said Ohio Casino Control Commission chief Jerry C. Cirino. “We benefit when things are good for (casinos and racinos),” Cirino added.

April revenue

The authorities recently released the latest financial report that details April operations in the state. The release showed that Ohio’s 11 casinos and racinos’ gaming revenue slipped 1.1% from April 2018.

The 11 facilities totalled US$160.2 million in April, which represents a 1.1% year-on-year decline. About one-third of that revenue was then paid to the state either in taxes or lottery fees.

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