IBJNews

Indiana casino expanding to fend off competition

Back to TopCommentsE-mailPrintBookmark and Share

Leaders of a southeastern Indiana casino are banking on a new $49 million convention center and hotel complex to help it compete with a casino being built in nearby Cincinnati.

Government and business leaders took part in a ground-breaking ceremony Tuesday in downtown Lawrenceburg for the Hollywood Casino project. The new complex is expected to open in summer 2013 with a concert hall and exhibition space, a 180-room hotel and a 150-seat restaurant and bar.

"This becomes part of our offense and defense relative to the competition that's coming," Joe Hasson, Hollywood Casino's general manager, told The Cincinnati Enquirer.

The Horseshoe casino in Cincinnati is scheduled to open in spring 2013, posing greater competition to the Lawrenceburg casino and two other Indiana casinos along the Ohio River near Cincinnati — Rising Star Casino at Rising Sun and Belterra Casino near Vevay.

The Lawrenceburg casino in 2009 moved into a new $336 million boat that more than doubled the size of the one it had since opened in 1995.

Hasson said the casino's current 300-room hotel is typically 90-percent full.

The city is financing most of the project, with a $25 million grant, a $14 million loan to Hollywood and $10 million from a special taxing district. The casino will assume both ownership and management of the complex once it is completed.

"This is to offset what we hope is not a great loss in revenue," Mayor William Cunningham told WXIX-TV. "So the combination of the city working with the casino is definitely the right mix, and the only way it would work."

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT