Things seem to be getting back on track for the gambling casinos in Cincinnati. The construction work on these casinos in Cincinnati and Cleveland have been halted and now are looking to resume thanks to Gov. John Kasich. These projects have been down since May while Rock Gaming the company in charge had to settle some outside tax issues which cause the process to be stalled. Now they have made an agreement with the governor that will put them back in the swing of things and get construction crews ready to work in the next couple of weeks.
The construction apparently halted due to the fact that the governor was working to raise additional taxes on casinos and therefore was continuing to investigate how they could find a new way to raise the gambling taxes. The negotiations on the subject have been going on for many weeks while Rock Gaming has decided to stop all construction until a resolution was agreed on. Last Wednesday was the peak of the disagreements with the casinos walking away with a deal that will be consistent with the Constitution casino amendment was brought about in 2009.
As it stands the casinos will pay 33% tax on all gambling revenues and business taxes alongside that. They will also pay a $50 million licensing fee to the state in order to operate within that state. This agreement comes at a very important time due to the fact that many people are out of jobs with the situation of the economy. By shutting down the casinos that were being constructed, many jobs were in jeopardy of people were forced out of work. This new casino project will bring 2100 construction jobs and 1700 permanent jobs will be filled once the casino is open. This is a sizable change for the locals, and one that is necessary for further growth.
At this time, neither the casinos nor the state are releasing further details on the agreement that was resolved last week. They’re looking to release the full specifics later this week. According to the reports, both sides walked away happy and we’re satisfactory enough to the gambling company they can still push forward on their future plans of expansion. One of their plans a $500 million casino at Broadway Commons and of course the legal and casino. The Cincinnati casino will be expected to be over 350,000 ft.² and provide a great deal gambling entertainment for its guests. The casino appears to walk away pretty happy from this agreement and is excited to get back on track with their construction plan. Before the strike by the construction workers to resolve this issue, the casino is planning to open in Cincinnati in 2013. There’s been no further word as to how far behind they will be due to this disagreement.
The governor spoke about the agreement briefly and stated that he was happy that they have at least reached an agreement and that the casinos will be able to survive in a local Ohio citizens will also benefit from their being there. According to the governor the negotiations were made in good faith along with the spirit of partnership which will be important in the upcoming years and working together to help boost the economy.
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