Monday, October 20, 2008

Potential Ohio Casino Could Challenge Detroit Gaming Market

Two weeks from Tuesday, voters will decide whether to legalize what could be the largest casino in the Midwest - a monster 97-acre complex just off Interstate 71 near Wilmington.

Developers think they can win $850 million in projected annual gambling income as part of a total $1.2 billion in projected revenue.

If they did, the new casino could make the Southwest Ohio/Southeast Indiana market a challenger to Detroit as the nation's No. 5 gambling destination. By itself, the casino would make Wilmington the nation's 11th largest market.

With developers planning to hire more than 5,000 workers, the casino would be the region's 12th-largest private-sector employer - behind the Archdiocese of Cincinnati and ahead of Macy's Inc. If the development were counted as a private enterprise, the $1.2 billion in total revenue - gambling plus restaurants, retail and lodging at a 1,500-room hotel - would make it large enough to tie with Fort Mitchell-based Drees Co. as the region's third-largest company.

For the complete story, please see Alexander Coolidge, Issue 6: High stakes in casino vote, Cincinnati.com, October 19, 2008.

No comments: