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Regional Leaders Betting Big On Horseshoe

Monday, May 14, 2012 at 11:19 AM

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Tonight, the first of four voter-approved Ohio casinos opens in Cleveland. The $350 million Horseshoe Casino has local leaders betting on a sizable cash jackpot for the city and county. Ideastream's Brian Bull reports.

Photo Gallery

The Horseshoe Casino officially opens its doors tonight in Cleveland (pic by Brian Bull) Cuyahoga County Ed Fitzgerald wants to channel casino proceeds to local economy (pic by Brian Bull) It's hoped that the casino will drum up business for neighboring shops, restaurants, and stores (pic by Brian Bull) Inside the Horseshoe Casino, a $350 million venture and one of four voter-approved casinos for Ohio (pic by Brian Bull) The Doubletree Cleveland Downtown Lakeside Hotel, one of many businesses hoping to benefit (pic by Brian Bull)

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Projections show that beginning in 2013, distribution of gaming taxes should total up to $30 million annually for the City of Cleveland, and close to $19 million for Cuyahoga County.  Local leaders plan to make good use of that money, including County Executive Ed Fitzgerald. 

“We’re going to try to use those funds to invest in economic development and hopefully kind of re-circulate that money in the local economy,” he says.

Brett Farmer is a line cook, who also enjoys an occasional round of poker. He says having the Horseshoe will brighten the city’s fortunes.

“When I think of Cleveland, it is pretty high on the poverty level,” says Farmer.  “And I think when you add something like a casino to the city, that possibly more tax money can go into the city and clean up a lot of this poverty.”

But some critics question whether the payoff will truly be as big or sustaining as backers say it will.  Others say it’ll spur crime, traffic, and gambling addiction.

Tags

Economy, Regional Economy/Business - News, Community/Human Interest, Government/Politics

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