Madison graduation 2012
Warren County CC graduation
New Miami graduation 2012
Home > Blogs > Ohio politics > Archives > 2011 > June > 15 > Entry
Ohio to get $110M more from casinos; no deal on Dayton track
By Joanne Huist Smith
An agreement between Gov. John Kasich’s administration and the developer of casinos in Cincinnati and Cleveland could net the state millions in fees, mostly from slot machines, while discussions with the company that wants to build a racetrack in Dayton continue.
Ohio would get an additional $110 million in payments over the next 10 years from the deal with Rock Ohio Caesars, LLC, the developer of Horseshoe Casino properties; about $350 in video lottery terminal fees. Commission on slot machine revenues cannot exceed 66.5 percent.
Portions of the agreement would require approval by the General Assembly and in some cases the Casino Control, Lottery and Racing commissions.
The deal, in principle, would allow Rock to pay the state’s commercial activity tax on total dollars wagered minus winnings and prizes to customers.
That deall currently does not apply to Penn National Gaming, Inc. Penn National wants to move operations at Beulah Park near Columbus to a site at Wagner Ford and Needmore roads in Dayton, about a mile east of Interstate 75.
The proposed $200 million thoroughbred horse racetrack in north Dayton that would create 1,500 jobs.
“We are still in discussions with the administration over a variety of issues that involve gaming,” Bob Tenenbaum, spokesman for Penn Nationnal Gaming Inc. said. “We have not reached an agreement.”
If built, the Dayton facility would be the first new racetrack in Ohio since 1959. Penn also announced intends to move Raceway Park in Toledo to Youngstown.
Permalink | Comments (3) | Post your comment |
Tweet
Comments
By Franky
June 17, 2011 7:28 AM | Link to this
Wealth attracts wealth. There is a lot of money that circulates through casinos. Hopefully they could attract some wealthier patrons who would also spend money at hotels, restaurants, and other shopping areas. And depending on their size, bigger ticket shows and events could also be held at the casinos attracting money from other states.
By @ jeff hodapp
June 15, 2011 8:49 PM | Link to this
You’ve missed the point. The point of this is simply to make the casino developers and their shareholders money. Any other stated purpose is a lie.
By jeff hodapp
June 15, 2011 5:59 PM | Link to this
wonder if a study was made about how much money these casinos will remove from an ailing state economy?