A rendering of what Cincinnati's Horseshoe Casino could look like.
provided
(Cincinnati, Oh.) - This time next year, southeast Indiana’s riverboat casinos could see some of its customers being siphoned off by some new competition.
Rock Gaming is building the new Horseshoe Casino in downtown Cincinnati. At Tuesday’s Cincinnati City Council meeting, the company said the casino is on schedule to open in the Spring of 2013 and does not foresee any delays.
The $400 million is also within its budget so far, officials said.
Construction at the casino site was halted for about a week earlier this year when a floor of the site collapsed. In 2011, work was stopped as Ohio Governor John Kasich feuded over taxes to be paid by casino operators.
When construction began and before those snags, Rock Gaming originally expected the Horseshoe Casino to open by the end of 2012.
WLWT-TV reported casino officials expect interior work on the new gaming facility to begin in early June. Hiring will begin late this year.
A 2009 study by Spectrum Gaming Group determined Cincinnati’s casino could take $181 million in revenues and $57.4 million in taxes from Hollywood Casino, Grand Victoria Casino, and Belterra Casino Resort & Spa in the first year. Those are each losses of abotu 25 percent.
LINKS:
Local Casino Revenues Rise In 1Q
SEI Riverboats' 2011 Revenues Top $675M
Full House Receives License For Grand Victoria
Penn National Names New Hollywood GM
L'burg, Hollywood Reach Event Center Agreement
