Cleveland Casino License Approved

Cleveland Casino License Approved

The OCCC has approved the operator’s license for Rock Ohio Caesars, owner and operator of Cleveland’s Horseshoe Casino, set to open May 14. The OCCC also approved a license for Horseshoe Management LLC, a subsidiary of Rock Ohio, to run the Cleveland casino. This license is conditional on confirmation that the company wired $3 million for licensing and application fees.

The OCCC also heard from consultant Spectrum Gaming Group LLC regarding Penn National’s license application to operate the Toledo casino.

Despite concerns about Fortress Investment Group LLC, who has a small stake in Penn National, and their former CEO Daniel Mudd, who faces allegations of fraud from the U.S. Securities and Exchange Commission, Spectrum recommended that the OCCC grant Penn National their operator’s license.

During the OCCC meeting, Penn National also provided an update on the Toledo casino. The 290,000 square foot facility, hoping to open May 29, will house 2,002 slot machines and 80 table games. There will be 1,329 permanent jobs with an average compensation of $40,000. Penn stated that over 90% of the jobs were filled locally.

The OCCC is expected to approve Penn National’s license at its next meeting on May 9.

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