New casino to be built in northeast Cincinnati

Project expected to create 2,000 construction jobs


CINCINNATI, Feb. 4, 2011 /PRNewswire/ -- Officials from the City of Cincinnati, Hamilton County and the State of Ohio, along with local business and civic leaders, today celebrated the ground breaking for Horseshoe Casino Cincinnati.  Rock Gaming LLC CEO, Dan Gilbert, Caesars Entertainment Corporation Chairman, CEO and President, Gary Loveman, and Mayor Mark Mallory presented an exciting vision for the estimated $400 million development to be built on the Broadway Commons site in northeast Cincinnati.

"Since Day 1 Cincinnati has embraced the opportunity for jobs, economic development and increased tourism that a first-class casino brings," said Gilbert.  "With the strong support of this very active, urban-focused community, our team has been working for more than a year to ensure that our project does not prosper alone but also benefits the surrounding neighborhoods and region.  The outward facing design and pedestrian accessibility will rejuvenate this part of town, while putting thousands of people into good-paying jobs."

After successfully leading the November 2009 constitutional referendum approving full-service gaming in the state's four largest cities, Rock Gaming selected the world's largest gaming entertainment company, Caesars Entertainment, as its partner.  The resulting joint venture partner, Rock Ohio Caesars, will develop and operate casinos in the downtowns of both Cincinnati and Cleveland.  Caesars will manage day-to-day operations at both casinos.  

"The new casino is another component in Downtown Cincinnati's growth," Mayor Mark Mallory said.  "It will bring thousands of new employment opportunities and tens of thousands of new visitors to Cincinnati.  The Casino, the Banks nearing completion and the continued new redevelopment of Over-the-Rhine shows the strength of Cincinnati's economy even in tough times."

"Today's announcement is an important first step toward bringing renewed economic development and new jobs to the Cincinnati area," said U.S. Senator Sherrod Brown.  "I applaud the casino developers for working closely with the community on their plans at every step of the process, and I encourage the company to continue utilizing all the resources that southwest Ohio has to offer as they move forward on this important project."

Brand

"It is only appropriate that Horseshoe – one of our legendary and fastest growing brands– makes its mark here in the Queen City," Loveman said.  "Our Horseshoe casinos are the overwhelming preferred choice in gaming in each of the five markets where they operate, and we fully anticipate Horseshoe Cincinnati will enjoy similar success."  The casino is expected to draw six million visits downtown annually.

General Manager

Loveman also introduced the casino's new general manager, Kevin Kline, a Caesars executive who most recently served as assistant general manager at Horseshoe Hammond, located in the Chicagoland area.  Kline will ensure that the casino is developed to maximize connectivity and economic impact downtown, in the region and throughout the state, while upholding Caesars' world-class operating standards.  "My first priority is to meet the area's hotel, restaurant and retail community to discuss potential opportunities to service future casino guests," Kline said.

Jobs

Rock Ohio Caesars expects to invest more than $400 million into the Cincinnati casino development.   Land was acquired last year, and the construction team has already started initial site preparation.  Local design, engineering, and contracting firms have been engaged and construction will begin immediately.  Approximately 2,000 construction workers will work on the site over the course of the next 24 months.  As an anticipated opening date approaches in late 2012, Horseshoe Cincinnati will hire and train approximately 1,700 new employees.  The companies have committed to hire at least 90 percent of casino employees from the Cincinnati metropolitan area, and have already engaged local contracting and design teams to work on the project.

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