Ohio bingo profits dropping - WFMJ.com News weather sports for Youngstown-Warren Ohio

Ohio bingo profits dropping

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DAYTON, Ohio (AP) - Profits generated by Ohio charities on bingo games have dropped steadily in recent years.

State numbers show charities playing bingo generated profits of more than $100 million last year, more than other state. But revenue has dropped annually since peaking in 2005.

The Dayton Daily News reports that the economic downturn, as well as the new casinos and racinos, have bitten into bingo profits.

Around 1,700 nonprofits use bingo to raise money. Most remain profitable, but some operations have closed in recent years or are scrambling to pay bills.

Ohio bingo games took in $855 million in 2012 and turned a profit of $106 million. But those numbers pale in comparison to 2005, when state bingo operations logged revenues of $1.4 billion and took $196 million in profits.

 

Information from: Dayton Daily News, http://www.daytondailynews.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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