Online Casinos Directory

The state of Ohio is in the midst of serious debates over online gambling. Governor Steve Strickland is leading the legislators of the state to allow racetracks with slots, or racinos, to be established. It’s been a few years now that gambling and racinos in particular have been up for debate. The Governor is well aware of the struggling budget within the state and gambling is set to bring in the necessary funds to overcome. There are few other options in at state’s disposals that would bring in millions of tax-revenue dollars. Though legislators believe legalizing gambling, racinos to be exact, is the most reliable way to bring in money, there are other entities within the state that disagree.

Namely LetOhioVote is an organization that is petitioning for state legislators to allow the voting public to decide on the issue of legalized gambling. They want the issue to be on the November ballot and decided by the people. Organizers of the group firmly asserted that they have no opinion as to whether or not gambling should be legalized or not—that argument is not a part of their agenda. Rather, their only concern is that the people are given the proper information to make an informed decision. They want to be sure that politicians are not painting a more positive picture of the gambling issue in an effort to bring in millions of tax-revenue dollars. There is a repercussion of having gambling facilities and online gambling legalization. Some experts are citing the increase in congestion from traffic if land-based casinos are built and other are noting the increase in gambling addictions to deal with. These are just a few issues to deal with for the state and any other state that brings gambling into its legislature.

LetOhioVote is campaigning hard for the change to be put into the hands of the public. Legislators would have preferred to pass the issue and collect on funds. Now, it is in the hands of the voting public whether or not gambling will be a staple in the finances of the state. Within the next few months the issues should be sorted out because the voting public will have spoken.

Vote No Casinos is a group opposing a new casino to be built by Penn National. The casino is scheduled by Penn, owner of Argosy Casino, and the proposed development will include a 22,000 square foot casino. The casino itself will have 5,000 slot machines and 100 gaming tables. A hotel with 1,500 rooms will form part of the development. The total price tag of the casino resort is estimated around $600 million. The casino will be just off the Interstate 71 at Route 73. Penn National Gaming, owner of the Argosy Casino in Indiana are opposed to the new casino and has filed a protest which was rejected by Secretary of State Jennifer Brunner. Penn National Gaming claims that the developers have not properly filed their paperwork. They are also running a television and radio campaign for Ohio voters to reject the new casino development. They are cautioning the voters about all the ramifications of bringing gambling to the area.

When it comes to Vote No Casinos, this is a group that is voicing its strong opinion against the casino. The organization is run by the Ohio Roundtable and does not want to be associated with Penn National Gaming. It is decrying its construction and noting how bringing a casino resort to the area is a high price to pay for the community and surrounding areas. Commercials against the casino are claiming that due to certain loopholes tax money from the casino may not be as much as is currently foreseen. Rick Lertzman, co-owner of MyOhioNow.com denies this, he says that the casino would distribute some 30% of their profits to all 88 counties in Ohio which would amount to roughly $240 million. Lertzman also said that Penn National is afraid that the new casino would take some of their business. The new casino will be 40 miles away from the Argosy Casino and he says that it will attract Ohioans who currently cross the border to Indiana to gamble. Eric Schippers of Penn National says that a yes vote will give MyOhioNow.com a casino monopoly. It will take time for the issue to be settled but it seems like the Ohio voters are the ones that will make the final decision.

An interesting study showed some illogical results. Recently a study was done about addiction and it found that of all addictions, including heroin and crack, gambling is the one with the highest suicide rate among sufferers. Jane Eigner Mintz, an addiction therapist, said, “A gambling addict will create so much damage that they will figure their families will be better off with them dead. Death is the ultimate bailout.”

Much of the debate depends on the vote in November to decide what is going to happen. The study found that when Casino Windsor o9pened its location in 1994 and its Gambling Helpline announced a substantial increase in calls and people in crisis since that time. Denise Philips, therapist in the state, said, “By the time I meet with them, they have reached a state of desperation.”  It’s a difficult time for the market because many legislators need to use gambling as a means of bringing in added revenues. But, with the increase in addiction and problems otherwise accustomed to the game, it is going to be a difficult thing for the state to manage.

Critics of gambling say that it will inevitably bring in an increased number of addictions to deal with and without the necessary safeguards built into the system from teh ground up, it may be difficult to play catch-up later down the road. Now that there is some formal investigation into the issue and confirmation that an increase in gambling does increase addiction, some people may be more willing to at least explore the legalization process. Rather than looking at gambling as purely a money-making activity, legislators are hopefully looking at the issue. They want to know how prevalent addictions will get as the gambling industry is legalized and regulated and as more and more people start participating in them, how will the state legislators manage. This is a crucial question for people to ask. And a crucial question for legislators to consider before they immediately jump to legalize and regulate gambling online. It sounds like a lot of money to be had by the state, but they can’t be blindsided by it. They have to be aware of the ramifications of having gambling enter individual states.

The slot machine industry is celebrating some good news coming from two of the most unlikely places, Ohio and Illinois. Governors in the two states approved legislation that will add an estimated 40,000 to 75,000 new slot machines in the combined markets and this may trigger expansions in other states as well. “Annually there are approx. 25,000 slots replaced each year which means an increase in slot machine production. In Illinois, Gov. Pat Quinn approved a public works plan that will allow bars and taverns throughout the state to add video poker and video blackjack machines. Each location would be allowed three types of machines and analysts believe anywhere from 25,000 to 50,000 games could be added by next year. That means huge dollars for the states in gambling tax revenues. It’s a good time due to the recession. States are acting like kids in candy stores with gambling. They have had to struggle for revenues for so long due to the recession that slots are bringing an added hope to the markets.

In Ohio, Gov. Ted Strickland signed an agreement allowing the state’s seven racetracks to each add up to 2,500 video lottery terminals for a total of 17,500 machines. Analysts suspect the games could be in place by next summer. This is a win for slot makers who will see a direct effect in their bottom line. “I would say it was a pleasant surprise because we did not fully anticipate the way this came down,” said Chuck Brooke, senior vice president of government affairs for International Game Technology. What is unsure is how other states will respond.  Will they be encouraging, or will them try to thwart the efforts? Will they think that the slots will threaten their own gambling efforts creating too much competition?

Kent thought Kentucky, which did not approve a push for racetrack slot machines earlier this year, could revisit the issue in the fall Kentucky tracks will have to compete with Indiana and Ohio tracks, which will have slot machines. Meanwhile, analysts thought casino operators in neighboring states would be forced to update their slot machine floors to deal with the expansion.  Overall it is good news for legislators who are looking positively for the increase in revenue.

The state of Indiana has a great gambling industry. There are casinos and people come from neighboring states to support the industry. Their hefty bankrolls bring a lot of revenue to the state’s hefty list of expenses. Due to its popularity in the state, Indiana is putting together a legislative panel to study the various aspects of gambling in the state.

One of the solutions the panel came up with was to allow riverboat casinos to move inland. The move would keep gamblers from leaving the state to go to land-based casinos in neighboring states. Senator Luke Kenley said, “As in any other industry, particularly those that cater to retail consumers, it is all about location. We think their ability to go to a better location would increase their volume and the amount of business they could do.”
Indiana is hoping that making the move will capitalize on the power of gambling and bring the revenues available to new heights. Like most post-recessionary budgets, Indiana is struggling to make ends meet. The huge deficit is weighing heavily on the minds of legislators and bringing in more gambling money is a priority on the list of issues to cover. Everyone knows that gambling is lucrative, but how to channel the money and close out competition, is a hot topic.

Moving riverboats to land does have a price however, The legislative panel found that states need to charge riverboats for the move. The study also confirmed that taxes should remain the same for riverboat casinos. Indiana lawmakers have had to revisit their gambling laws because of increased competition from neighboring states. Ohio, in particular, is going to make a big jump into the casino industry, with four casinos planned, one each in Columbus, Cleveland, Cincinnati, and Toledo. The added competition has Indiana legislators on edge and they are hoping to brace for the change. For a long time Indiana had a corner on the market of gambling, but now that Ohio is entering the market with four state-of-the-art casinos, Indiana lawmakers are worried. They know that only if they make serious changes in the market and continue to develop for customers, they may lose a great market share to Ohio.

In today’s world legislators are looking for more revenue. The recession was hard on almost every state and most are fighting with a huge deficit and shortfall in funding. How to bring more money into the state is a primary issue that legislators are wrestling with. Gambling is quickly becoming one of the go-to solutions for problems. It’s no secret that gambling is a billion-dollar industry and the money legislators need to thrive may be tied to allowing gambling’s legalization.

Indiana is another state wrestling with how to keep their casino gambling industry alive. Legislators just put together a study of different aspects of gambling within the state. One of the answers found by the research was that riverboat casinos could be moved inland. This would keep people who want to gamble from having to go to other neighboring states to do so. Senator Luke Kenley said, “As in any other industry, particularly those that cater to retail consumers, it’s all about location. We think their ability to go to a better location would increase their volume and the amount of business they could do.”  Along with other lawmakers, Kenley believes that moving riverboats is a positive move that could elevate gambling revenues and give people what they want in the state.

Despite its advantages, moving the riverboats is quite a task. The study showed that every riverboat that is moving should have a state-instituted fee that they have to submit prior to the change of location.  The study confirmed that tax rates will remain the same for riverboat casinos.
Indiana lawmakers have had to revisit their gambling laws because of increased competition from neighboring states. Ohio, in particular, is going to make a big jump into the casino industry, with four casinos planned, one each in Columbus, Cleveland, Cincinnati, and Toledo. The four neighboring casinos are new and planned as state-of-the-art facilities that should being in millions of residents not only of Ohio, but of all neighboring states. It will be difficult for any state to compete with the new fabulous four casinos and for any state that wants to remain competitive, they need to come up with a plan.

Ohio is still working hard to sort out their slots issues. Governor Stickland is suporting the postponement of a budgeted reduction in income taxes that came into effect on September 30th. The Governor is stating the postponement is the best option for the state as they try to figure out the $851 million deficit in educational funding. The shortfall in funds is a difficult one to manage and Strickland was hoping to use revenues from slots as a way to close the gap on teh huge cost to the state. Unfortunately the Ohio Supreme Court just decided that to use slots in the state as funding there must be an official voter referendum. In other words, the people need to decide if this is acceptable and make the decision for their state.

Though slots were approved by the Governor, now things are up in the air until the referendum vote decides the outcome. One of the organizations petitioning for the vote was LetOhioVote.org. This is a group that, just like their name implies, is trying to let the state citizens vote on whether or not they believe that slot machine revenues are a desired way of funding government programs, education and other funding needed to close the gap on the huge deficit in the budget. LetOhioVote.org has made headlines as of late due to their active campaigning for signatures that would secure the decision for the state to let people decide on the issue.

In 2005, legislation approved a lowering of personal income tax rates by 4.2% each year from 2005 throughout 2009 in the state. This means that a family that earned, say $50,000, the delay in the income tax reduction play would produce a tax bill approximately $80 more than they normally would have paid. Strickland is hoping that the income tax change is a more reasonable action than laying off teachers or suspending educational programs.  Without slots revenue, Stickland said that the satate funding would have to be decreased by 10% and in two years the total cuts would add up to approximately $37.9 million.  It will most likely be an issue that will be settled by the people of the state when the referendum is voted on in 2010.

There really is not a way to shoot for any time frame sooner then 2012 experts concluded. Penn National will own and operate the two casinos for Toledo and Columbus and will put about $600 million into them. Developers are hoping for 2,000 to 5,000 slot machines and anywhere from 50 to 100 table games to be available in each facility. Gaming analyst David Katz said, “Although we expect legal challenges and market infrastructure to take 24 months, the development is bullish for Penn.” Penn National, a racetrack and regional casino giant, bankrolled the campaign in support of the referendum, along with Gilbert, who is the founder and chairman of Quicken Loans. They hoped for the move to help the company form its brand in the state via the new casino projects.

The state of Ohio is giving licenses to each facility at a price tag of $50 million and a minimum investment of $250 million per location. The tax rate on gaming revenues will be 33 percent. In spite of the huge license fees and investment requirements needed, many analysts believe that the resort-style casinos in Ohio are a sure fire hit. “The passage is a positive for Penn and for the equipment companies as it opens up a new market,” Susquehanna Financial Group gaming analyst Robert LaFleur said. Several analysts, including Katz and Janney Montgomery Scott’s Brian McGill, said the casinos’ opening could add up to $5 a share to Penn’s stock price and investors agree. Shares of Penn National have already went up as much as 10% on the NASDAQ and closed at $28.19, which is up 7.6% or just short of $2 per share.

Industry insiders are saying that Penn National could possibly be tasked with opening the two other facilities in Cincinnati and Cleveland also. Macquarie Securities gaming analysts Joel Simkins said, “Clearly, we believe this is a home run for Penn National, but we believe there could be even more incremental opportunities in a potential management contract with Gilbert’s properties, given his lack of experience in casino operations.”  If Penn National is called in to develop all four casinos this could be great news for the company and for the state of Ohio if it is successful.

Ohio voters have spoken and in a 53 to 47% vote they have decided to support the building of one casino in each of the state’s four largest cities—Toledo, Cleveland, Cincinnati, and Columbus. The vote that happened last week reversed over two decades of opposition to allowing legalized gambling in the state.  In fact, residents rejected the proposition of the four casinos on four different occasions in previous years. It was anyone’s guess if the referendum would go through this year and fortunately for casinos, it did.

Analysts believe that things are different this vote because people are seeing the economy and looking for things that could reinvigorate it. Namely, the casinos were presented to the public as a way to 1) bring more money into the economy due to tourism, 2) bring more tax revenue dollars to the state government and 3) create more jobs. One analyst Carl Petro of Baird and Warner, stated, “How can you not really weigh out the benefits of creating over 30,000 full and part-time jobs in an economy that is sorely lagging?” Petro is referring to heavy campaigning casino operators did prior to the referendum where “34,000 full and part-time jobs” was the key tagline. Whether voters saw advertisements in print, on billboards or on TV, the job prospects were number one in focus. Petro added, “The Ohio casino operators know that there is an unemployment rate upwards of 10% now and so does the voting public.”

The state of Ohio is facing a huge deficit and unemployment numbers that are among the highest in the nation. Referendum backer Dan Gilbert, owner of the National Basketball Association’s Cleveland Cavaliers, said, “This is not going to be a savior by any means, but it’s another brick wall.” He was referring to the problems with construction. The set date for the four casinos to open is some time in 2012. That gives opponents of the casinos plenty of time to rile up their own forces and explore legal challenges or introduce additional referendums to replace part of the measure. Although the vote was in favor of casinos, like Petro stated, “It wasn’t a landslide, though. The vote was separated by a mere 6%.” 

Part two coming next.

Voters in Ohio have spoken and they have voted for the opening of four casinos within the state. Although the Ohio voting public has not been positive about gambling in the past, it seems that the tide has turned. The four main cities getting new casinos have been pining for them for some time. Casinos in Cincinnati, Columbus, Toledo and Cleveland all aspire to increase the Ohio gambling tax revenue and help shore up huge deficits that resulted from the recession.  This is a landmark now that the casinos have finally gained the voting publics’ support through referendum.

One party that is not as excited about Ohio’s gambling increase is Michigan. In particular, it’s Detroit that is having issue with the addition of four new state-of-the-art facilities in its neighboring state.  Detroit currently has a gambling market that brings in $1.3 billion annually and legislators are afraid the new casinos will jeopardize their huge dollars.  Detroit’s casinos draw on thousands of Ohio visitors, and parts of Michigan are closer to Toledo than Detroit.  Both states share millions of dollars from casino taxes, and any loss of customers could hurt their already depressed revenues. Although the Detroit Metro Convention & Visitors Bureau says the area’s hotels, sports and entertainment attractions will continue making Detroit a big gambling draw, some are disputing that claim.

Some critics believe that with four large casinos, in particular the Toledo location, gambling money is sure to be split. Market analyst James Singleton stated, “It surely will have an affect on the Michigan market. Whenever you have big-name competitors enter your market you have to be afraid…without some intense marketing efforts Michigan will see a decline, even if it is only temporary when the Toledo casino initially opens.”  The Michigan gambling market will need to put some serious efforts into maintaining their market share for the 2010 fiscal year. The four casinos soon to be up and running in Ohio are already slated as million-dollar venues with state-of-the-art facilities. They are being built from the ground up using top-notch elements from the very beginning. Singleton added, “These are going to be premiere venues and if I were Michigan I would be at minimum concerned.”