By the numbers
$400 million
Cost of Horseshoe Casino Cincinnati.
354,000
Size of casino in square feet.
22
Size of parking lot, in acres, before construction began.
3,700
Jobs created during construction and for operation of casino.
$29 million
Total of contracts awarded for casino construction.
CINCINNATI — The world’s largest casino operator is accustomed to building gaming facilities, but the Horseshoe Casino Cincinnati is being built with a twist.
Caesars Entertainment and Rock Gaming Ohio’s joint venture to build a truly urban casino in Cincinnati might be the first of its kind, perhaps with the exception of the Harrah’s Casino in New Orleans, said spokesperson Jennifer Kulczycki.
The $400 million, 354,000 square-foot casino is currently under construction on what was a 22-acre surface parking lot known as Broadway Commons. It is expected to be open for operation in spring 2013 and approximately 2,000 jobs will be created during the construction phase followed by 1,700 casino jobs upon completion, Kulczycki said.
“Our urban casino philosophy really hasn’t been thoroughly done in the U.S., and that’s finding a piece of a property in a downtown, urban location and intentionally putting a casino with amenities and restaurants,” Kulczycki said. “So we can encourage pedestrian traffic.”
Typically, casinos house their restaurants inside rather than on the street. The Horseshoe Casino Cincinnati will feature three outward-facing restaurants to spur “connectivity” with the surrounding area.
An event lawn across the street from the main entrance, that will be located at the intersection of Central Parkway and Broadway Avenue, will be purchased and developed, said Anne Sesler, a consultant with Government Strategies Group, LLC.
“Typically you’re kept in this box, but that’s not what this casino is about,” Sesler said.
Partnering with local businesses – throughout the construction phase and when the casino eventually opens – is how the casino can make the biggest economic impact in the downtown area, Kulczycki said.
Throughout the construction phase, casino developers have awarded contracts to local companies, namely Messer-Pendelton construction managers. A total of $29 million in contracts have been awarded with 35 percent going to business owned by women and minorities.
That exceeded the 20 percent voluntary goal for casino developers, Kulczycki said.
Developers expect to spend $150 million on construction.
“We went into this project with an absolute intent on impacting the local economy, and that starts at the initial design and construction phase,” Kulczycki said.
Developers, in agreement with the city of Cincinnati, will not build a hotel because of the already high occupancy, City Manager Milton Dahoney said. This should also help spur foot traffic throughout downtown to the casino, Kulczycki said.
When finished, there will be a 100,000 square-foot gaming floor that will feature 2,000 slot machines and 85 table games. Approximately six million visits per year are expected.
Of the casino’s expected $550 million in annual revenue, approximately $100 million will be generated from gaming tax, according to the 2011 Broadway Commons District Study.
Tax funds will be distributed primarily to the city of Cincinnati ($21 million), Hamilton County ($12.2 million) and to all Hamilton County school districts ($14.1 million).
Other funds will be distributed across Ohio’s 88 counties.
The surrounding area around the casino is also being developed by the city and private investors. The city is improving sidewalks and streets in anticipation for increased traffic while private investors are likely to snatch up property around the area for development.
The city has also approved a $17 million tax increment-financing plan to fund civic improvements surrounding the casino, Kulczycki said.
“The city hadn’t put a lot of time and energy in the surrounding roads and sidewalks because it was 22-acre surface parking lot,” Kulczycki said. “The TIF will work to improve and help the city mesh with the casino.”
Since the casino will partly be operating by Caesars Entertainment, Total Rewards player point cards will be accepted. There are approximately 170,000 card-holders within a 50-mile radius and a half-million within a 100-mile radius, Kulczycki said.
Contact this reporter at (513) 755-5112 or Kareem.Elgazzar@coxinc.com.
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