Casino developer mum on Ohio's profit potential

In its first report to Wall Street since Ohioans approved four casinos last week, the developer of two of the casinos did not predict that it would get rich quick as a result of the passage.

[ObamaMoney]

You can bet on the silence over profits because there wont be any unless the ObamaMoney bailout provides funds to ACORN to give to potential players. Everybody else here is trying to feed themselves.

[Lynn M]

BRING ON the casinos already!! Start building them and get this project going!!!

OHIO HAS VOTED!!! Listen to the people! This is a major victory for the state of Ohio!

Build, build, build!!! Bring 'em!!

[jsned]

After the politicians get their share , don't look for a big profit.
The lottery money is still trying to get to the Schools.

[D central ohio]

I didn't vote for it.

[BethOhio]

Casey in Columbus wrote:

<quoted text>
O is not an American, he's a self-proclaimed Muslim. And we know they don't want us to succeed. WE WILL though, in spite of him and in spite of them.

Being a Muslim or an American are not mutually exclusive. American is a nationality....Muslim is a religion. You can be both. Get a new line....you all sound like a broken record.

[lwagner1998]

We didnt want it in Franklin County, let the rest of the state benefit from this project(i am being sarcastic!)..This will be a cancer for Ohio..Keep it out of columbus..

[Mark]

Here comes the devil.

[buxdelux]

Well lets see. Wall street + casino + politics equal? Where the heck is Leroy Jenkins

[Ed S]

Casey in Columbus wrote:

<quoted text>
O is not an American, he's a self-proclaimed Muslim. And we know they don't want us to succeed. WE WILL though, in spite of him and in spite of them.

Really when did "O" say he was a Muslim? He grew up and went to a christian church in Chicago, and even during the elections "O's" pastor caused him issues? so please explain when he stated he was a Muslim with an Imam.

[told you so]

Another underhanded move by the Gov. ironic he owns a race track that he wants to put in slots looks to be a conflict on intrest. He looks to be a one and done Gov for ohio

[Ophelia]

The reason why he is mum on Ohio's profit potential is because he really doesn't know. He claimed that $500M/yr. for the state and local governments combined was a conservative estimate, but all's fair in love and war (politics) Each casino will average about $50M/week in wagers, once it really gets going. So if you tax the wagers before payouts, then the payouts will be very small, which won't happen. The profit potential for each casino will be approx $465M/yr. for the first 3 years and will slowly decline after that.

[man]

Ed S wrote:

<quoted text>
Really when did "O" say he was a Muslim? He grew up and went to a christian church in Chicago, and even during the elections "O's" pastor caused him issues? so please explain when he stated he was a Muslim with an Imam.

When I read negative statements from these "O" haters, I try to ignore them. I voted for Change and I voted for the first African American President of the United States of America. There are millions in their grave that never had a real chance to do this. I voted for the casinos and tomorrow is Veterans Day and I will go out and celebrate since I am a six year Army veteran and still enjoying my rights to vote.

[ShamWow]

Wow People. When or better how long will it take you to figure out you were duped into voting for this? This will be stricklands coingate. If Ted is known for nothing else, it will be he left us in this mess

[vinny]

Strickland does NOT own a racetrack, the casino company does. Just a suggestion when you read it is from left to right.

[dave]

these casinos are owned by the banks. they will funnel the money outside of the state. the same corrupt banks that helped engineer our current crisis are going to pray on people weakness and the idea that it will create 36,000 jobs is insane..well ohio here ya go hope you like being swindled cause now you got it

[BAS]

Ted dropped the ball - should have installed the VLT's by executive order (like he did with Keno) - lack of political courage on his part - now an industry which employs 12,000 Ohioans (horse racing) is in serious jeopardy.

[Arvey]

Ophelia wrote:

The reason why he is mum on Ohio's profit potential is because he really doesn't know. He claimed that $500M/yr. for the state and local governments combined was a conservative estimate, but all's fair in love and war (politics) Each casino will average about $50M/week in wagers, once it really gets going. So if you tax the wagers before payouts, then the payouts will be very small, which won't happen. The profit potential for each casino will be approx $465M/yr. for the first 3 years and will slowly decline after that.

Wow Ophelia! For being a short-order cook, you know an aweful lot about the profits and wagerings from casinos!

[The Unit]

Geee...nice of them to say this now. And we don't want jobs-we want CAREERS.

[Logical]

Horse racing was already in jeopardy. Ohio is not known for racing anymore. Columbus is part of Ohio, and Ohio voted for these casinos. Can't wait until there is something else to do here other than go out to bars.

[Eugene_C]

It's a tax. The gambling is taxed at a high rate. It has the same effect on the economy as more taxes.

Instead of people engaging in a business that culls a 7% sales tax, they spend their money where it gets a 33% gambling tax. That means more taxes. What do more taxes do for an economy? Anyone take basic economics?