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updated: 11/4/2009 8:20:53 AM
[UPDATED] Gaming Expansion Approved in Ohio
Ohio voters have approved a measure allowing casinos in Cleveland, Toledo, Cincinnati and Columbus. Supporters of the initiative, including the owner of the National Basketball Association's Cleveland Cavaliers, commissioned a study suggesting the economic impact on Ohio would be around $4 billion, including the creation of approximately 40,000 full-time and part-time jobs. There is concern the competition will drive some traffic and revenue away from Indiana casinos.
Source: Inside INdiana Business
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The state's Legislative Services Agency (LSA) estimates wagering tax revenues could drop by at least $86 million.
The agency says a gaming operation in Toledo could reduce wagering tax revenue for Hoosier Park in Anderson by an estimated $9.7 million annually.
The biggest hit could be felt at casinos in southeast Indiana. The LSA estimates the number of people going to those gaming venues could drop by as much as 38 percent, due to Ohio competition.
Source: Inside INdiana Business
