Following the recently released report on the quarterly distribution of tax revenue generated by Ohio’s four casinos in the three months ended June 30, 2016, the Ohio Casino Control Commission posted information about the amount contributed to the state since 2012, when the first casino-style gambling venue opened doors in Ohio.
According to the latest figures reported, the four casinos have generated a total of $1,054,983,129 in tax revenue since 2012. Here it is important to note that the state of Ohio levies a 33% tax on adjusted gross gambling revenue, or the amount left after winnings are paid to players.
The money has been distributed to a number of entities over the past four years. The lion’s share of the tax revenue generated went to Ohio counties and cities. These have received a total of $538 million or 51% of the overall figure posted by the gambling commission. Ohio has 88 counties designated and 8 cities with population of over 80,000 people.
Ohio schools have been contributed a 34% share, or the amount of $358.7 million, of the overall tax revenue generated over the past four years. The four cities that host the gambling venues – Cincinnati, Cleveland, Columbus, and Toledo, have been paid $52.7 million or 5%.
The Ohio Casino Control Commission has been contributed $31.6 million, or a 3% share, for administration and operation costs. The Ohio State Racing Commission, the regulator in charge of the state’s seven racinos, has received the same 3% share.
A specially established fund for problem gambling as well as a law enforcement fund have each been contributed $21 million over the period in review.
Ohio’s four casinos generated tax revenue of $65.3 million in the second quarter of 2016. In comparison, the amount of $71.2 million was contributed to the state out of gross gambling revenue generated in the first quarter of the year. In fact, the tax figure reported for the previous quarter represented the highest quarterly tax revenue since the first casino opened doors back in 2012.
Over the past four years, quarterly distributions from the four gambling venues have ranged from $65 million to about or a little over $70 million, figures from the state Casino Control Commission show.
