CINCINNATI - "Horseshoe Casino Cincinnati" is the official name of the newgambling palace to be built Downtown at Broadway Commons.
Businesses in the Central Business District, Over-The-Rhine andPendleton hope they’re as lucky as the name sounds. Thesame is true for job seekers.
The name was unveiled Friday morning during the officialgroundbreaking for the $400 million development at Broadway andReading Road.
Dozens of dignitaries and community leaders gathered inside atent at the site as Dan Gilbert, CEO of the project’sdeveloper, Rock Ventures, talked about how the project has been andwill be a two-way partnership between the public and privatesectors.
“We’ve built a coalition of labor, of minorityinterests, of city officials, of local businesses and retailersplus state officials,” Gilbert said. “It’sreally a core principal of how committed we are toCincinnati.”
Gilbert said from the beginning Rock Ventures wanted to put thecasino in an urban setting that not only promotes itself, but otherbusinesses to create more excitement downtown.
Site preparation work is already under way and construction isexpected to mean 2,000 jobs over the next 24 months. That’s just over half the jobs the casino will create.
“We anticipate having 1,700 casino jobs here once thefacility is opened, generating tax proceeds that will benefitespecially the local communities here,” said Greg Loveman,CEO of Caesars Entertainment, which will operate the facility.
Once it's opened in late 2012, "Horseshoe Casino Cincinnati"will generate an estimated $21 million a year in tax revenue forthe City of Cincinnati, $12 million for Hamilton County and $14million for schools within Hamilton County's borders.
Jay Rodgers, owner of Joe’s Diner at 12th and SycamoreStreets in Over-The-Rhine, plus Mix Ultra Lounge on Main Street,said he feels anything coming in the neighborhood is going tohelp.
“A lot of folks who typically wouldn’t come toOver-The-Rhine will come to see what we have going on down here,hopefully start liking it and start coming back,” hesaid.
At Urban Eden on Main Street, owner Julie Fay was cautiouslyoptimistic about what the casino could mean for her business.
“We find a lot of people who come in from out-of-town, areinterested in coming to the historic neighborhood anyway,”she said. “We would hope to pick up on thosefolks.”
Fay added she believes the biggest issues are mobility of peoplegetting from the casino to Main Street and back again and whetherthe casino will promote their business district.
Loveman estimated about 10,000 people could come to“Horseshoe Casino Cincinnati” once it’sestablished and that all of Cincinnati’s assets will becross-promoted to people at Caesars properties around theworld.
“We’ll be telling them about the Reds and theBengals and events that are taking place here,” hesaid. “We’ll package visits here with all thethings Cincinnati has to offer – things that you’re soproud of here – as part of the broader experience.”