More details emerge concerning VLTs at Ohio tracks
June 15, 2011,from the USTA Communications Department
Columbus, OH — The Columbus Dispatch has released more information about the deal reached between Governor John Kasich’s office and the developer for casinos in Cincinnati and Cleveland.
According to the Dispatch, Rock Ohio Caesars will pay an additional $110 million to the state over the next decade to operate casinos in Cleveland and Cincinnati.
Also as part of the agreement, the state would require $50 million in licensing fees for video lottery terminals at each of Ohio’s seven race tracks, plus 33.5 percent of all VLT revenue. Track owners would be required to invest at least $150 million in their facilities, including the VLTs, with a maximum credit of $25 million allowed for the value of existing facilities and land. They would have three years to open the racino once a license was granted.
But before any VLTs are installed at the tracks, owners must first work out an arrangement acceptable to the horse racing industry “on funds to benefit the industry.” The state can impose such an agreement if the parties can’t come to an accord.
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- Cleveland/Cincinnati casino, slots at track deal reached (Monday, June 13, 2011)
Ohio Governor John Kasich’s office said it had reached an agreement about casinos in Cincinnati and Cleveland with developer Rock Gaming, with approval of video slot machines at Ohio’s racetracks part of the deal.
- Ohio legislature approves VLTs at tracks (Wednesday, June 29, 2011)
Ohio lawmakers have approved Gov. John Kasich’s agreement that will allow video lottery terminals at racetracks and require the developers to pay additional fees to the state.