Thu June 16, 2011
Deal Reached Between Governor and Rock Ohio Ceasars
Ohio will get an additional $110-million thanks to a deal reached between Governor John Kasich and casino operator Rock Ohio Caesars. In exchange ROC will only pay Ohio's commercial activity tax on what people wager, minus winnings. Rock CEO Dan Gilbert calls the deal fair and reliable.
Gilbert says the size and scope of the Cincinnati casino isn't changing. He expects to open in spring 2013. Governor Kasich says Ohio needed a comprehensive gaming plan.
The agreement also covers video lottery terminals at Ohio's Seven Horse Tracks. Racetrack owners will pay $50 million to operate VLT's, be required to make a 150 million dollar facility investment and pay 33.5 percent of sales revenue. Portions of the deal must still be approved by lawmakers.