The complex deal to use casino-tax money to buy Nationwide Arena has hit a snag: there’s not enough money to make loan payments. Officials expected to pay off the loans with taxes from the new Columbus casino. But casino tax revenues are below projections. The city and county have not made a single loan payment for the arena.
A little history
To keep the Blue Jackets from leaving town, the Franklin County Convention Facilities Authority bought Nationwide Arena and gave the team free rent.
The Hollywood Gaming racino in north Dayton is getting closer to its opening day. Parent company Penn National spent around $6 million on cleanup of the old Delphi plant site, and now a new building, a racetrack, and almost 2000 parking spots are going in at the corner of Needmore and Wagner Ford roads.
Ohio casino revenue numbers are out for the month of May, and month-to-month revenues are up for the state’s four casinos. But with a new racino on the way, there’s growing competition for those gambling dollars in southwest Ohio.
About 20,000 people are expected to descend on Ohio’s newest racino Thursday. The new gaming facility in Turtlecreek Township is expected to be a boon to the local economy.
Warren County Economic Development Director, Martin Russell, says Miami Valley Gaming’s new $175 million dollar racino means big revenue for the county.
“I think that when you talk about jobs, you talk about capital investment, you talk about bringing in more people inside of Warren County...this is going to really broaden our economic base," said Russell.