Miami may have LeBron James, but Ohio will soon have new casinos. The latest development of casino gambling in Ohio took place on Friday when Rock Ventures
Cleveland will likely beat Cincinnati into the gaming industry, with the proposed Cleveland casino expected to be open by early next year. Dan Gilbert, the owner of the Cleveland Cavaliers, is the CEO of the company bringing the casinos to both Cleveland and Cincinnati.
Back in 2009, Rock Ventures and Penn National successfully lobbied Ohio voters to approved four new casinos in the area. After decades of failed attempts, the economy and unemployment rate in Ohio after the recession pushed voters to approve the gaming law. Now, millions of residents are waiting for the facilities to be built.
In addition to the entertainment the casinos will bring, tax revenue and job creation will grow with the new businesses. It is estimated that $181 million currently going to casinos in other states would stay in Ohio when the Cincinnati casino is built.
Indiana casinos could lose millions from gamblers who currently cross the state line to play slots and other casino games. Thousands of jobs are going to be created by the construction of the four casinos, and hundreds more will come when the casino in Cincinnati is opened.
The Cincinnati project is expected to cost $400 million to build. The site of the new casino will be Broadway Commons, and those excited about the project saw the first glimpse of the work to come Friday morning during the groundbreaking ceremony. The Toledo and Columbus projects are also underway and expected to be completed sometime next year.
February 5, 2011
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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