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According to revenue projections, the state of Ohio could become the nation’s number three gambling state behind Nevada and New Jersey. Forecasters say that money spent by gamblers in the Buckeye State could eclipse $3 billion by 2013.
That $3 billion mark depends on the expansion of gambling from video slots at racetracks approved by Ohio legislators combined with a ballot proposal to legalize four casinos, including one in Cincinnati.
Northern Kentucky, Southeast Indiana and the Cincinnati area already is considered the nation’s 13th largest gambling market with $731 million spent annually at local riverboat casinos. Forecasters see that revenue figure more than doubling, surpassing Detroit and St. Louis.
However, these projections are getting mixed revues from some analysts.
Steve Galloway the principal of Gaming Market Advisors in Denver, feels that this stance may be too aggressive. “Slots at racetracks will clearly cannibalize the casinos,” said Galloway.
He went on to say that if casino developers know that more competition exists from video slots in racetracks, this will like force them to cut back on construction.
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