For years now, the residents of Cincinnati have watched as other areas within the state built and prospered from a variety of hotels and casinos. Now, at long last, Cincinnati is planning to open its own casino and many residents are touting this as a good deal for the city as well as for the city’s economy. The project is expected to happen next spring and has been received with both excited acclaim and some anxiety from a few residents who feel casinos bring in crime and other social problems.
According to officials from the Horseshoe Casino, the city of Cincinnati submitted assurances that the $400 million gaming facility that is being proposed will be completed on time and that the facility will open as expected this upcoming spring. It was reported that the project is on schedule and staying within budget. The new Horseshoe Casino is said to become the fourth and last casino to open in Ohio.
One concern that some residents had about the proposed new casino was if it would fit the overall model of downtown Cincinnati. That issue was resolved and the casino will fit perfectly with its surroundings. The new facility will host a Margaritaville Restaurant which is said to be one of its of most popular coming attractions. Officals from Horseshoe were adamant that their efforts fit into the locals needs and that it represented Cincinnati is a good light.
The new casino was approved back in 2009 along with three other casinos. It was during the 2008 recession, which hit Ohio hard, that voters finally gave in to allowing casinos. Because of the four casinos that were approved, thousands of Ohio residents, and many others, have been able to find and keep steady work.
According to gaming analyst Brad Dawkins, “The Ohio casinos did exactly what lawmakers anticipated they would do. They created jobs, and they now are starting the process of bringing hundreds of millions of dollars to the state budget. So far it has been a win-win for lawmakers and residents of Ohio.” Even so, some critics remain.
The critics, for the most part, are keeping quiet until they see if the casinos that were allowed actually bring in revenues while at the same time are able to keep crime low. They are also worried about gambling addiction becoming a problem. To date, no reports have been issued showing any large increase in crime due to the casinos.
The new casino is owned by Daniel Gilbert, who also owns the Cleveland Cavaliers. He is the founder of the Rock Gaming organization which is said to own both the new casino in Cleveland as well as the Horseshoe Casino going up in Cincinnati. As for the casinos that are located in Toledo and Columbus, the rights to those are owned by Penn National gaming.
No estimates were released as to just how much revenue the city of Cincinnati might expect once the new casino opens in the spring. If the new casino has as much success as its predecessors, revenues should be impressive and very helpful to this financially struggling city.