The city of Cleveland has been searching for some good news regarding their entertainment industry since last summer. When LeBron James made the decision
Now, just a half year later, Clevelanders have a reason to smile. Dan Gilbert, the owner who lost James to Miami, has secured the land needed to bring a new casino to the city. Rock Ohio Caesars Cleveland LLC closed on the land Wednesday.
Gilbert, through his Rock company, has won the right to open casinos in Cincinnati and Cleveland. Ohio voters approved casino gambling for the first time under the plan, which also will bring casinos to Columbus and Toledo. Cleveland, however, is the city that needed the casino the most.
"After what these people went through last summer, they deserved something to go their way," said Gaming Analyst Steve Schwartz. "This casino will give Cleveland residents another option in an already full entertainment market. For Gilbert, the casino will not open soon enough."
Gilbert has had to endure one of the worst stretches in NBA history the past couple of months. The Cavaliers are approaching all-time losing streak records, and the team has been dismal at times. Even the most hardcore fan has come up with reasons to skip out on the games.
The land from the casino comes from Forest City Enterprises Inc. The company sold sixteen acres of land adjacent to the Tower City Center complex in downtown Cleveland. The sale of the land cost Rock $85 million, and the casino itself will cost an estimated total of $600 million.
February 3, 2011
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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