Top US Online Casinos
1. Jumba Bet Casino - $25 No-Deposit Bonus Plus a $1,200 Welcome Welcome package.
2. Bovada - Best bitcoin casino and massive welcome bonus worth 100% up to $3,000 Free.
3. Lucky Creek - 66 Free Spins Plus 166% up to $266 Free.

Caesars to Run Two Ohio Casinos

23 December 2010 by admin

CAESARS-ENTERTAINMENT-LOGOCaesars Entertainment is moving into Ohio. Such a move wouldn’t excite most people, especially considering that the two locations they’re moving into are Cleveland and Cincinnati. Very few people live in those dirty, crime-riddled cities by choice. Still, this is a big move for Caesars – one that could have huge implications for the future of their online gambling business.

Cavaliers Gilbert BasketballCaesars Entertainment, formerly called Harrah’s Entertainment (to be honest, I still like the old name better) will operate two casinos that are soon to be built in the U.S. state of Ohio. Both of the casinos are owned by Dan Gilbert, the Michigan businessman who also is the founder of Quicken Loans and a majority owner of the NBA’s Cleveland Cavaliers.

Back in 2009, Ohio voters approved allowing four casinos, with one each in Cleveland, Cincinnati, Toledo and Columbus. Gilbert owns the two casinos in Cleveland and Cincinnati and Caesars Entertainment will now operate those casinos after purchasing a stake in the company. The amount of stake Caesars will own has not been reported.

Caesars already owns a lot of casinos in Las Vegas and Atlantic City. Getting into the Ohio market has the obvious short-term benefits of making money from the brand new brick and mortar casinos. This deal could be strategic positioning for future online gambling licenses as well, though.

Caesars Entertainment already has an online casino, though they do not accept American customers. Harry Reid’s online poker bill, which failed to pass Congress during the lame duck session, had a provision that only allowed online gambling licenses to be held by casinos that had run land businesses in the state for at least five years. Though Reid, Barney Frank and others failed to pass online gambling regulation at the federal level this year, most believe it will happen eventually. When it does, Caesars wants to be at an advantage when it comes time to request business licenses for the new industry.

Until such time as there is federal legislation allowing online gambling, it is likely that the issue will become a state-by-state issue. New Jersey and California are poised to be the first two states to regulate intrastate online gambling and both are expected to happen sometime next year. Florida is considering doing the same, as is Ohio. By getting into the Ohio casino market early, Caesars should have an advantage if the state ever decides to regulate online gambling.

Comments are closed.