Ohio Venues Bought by Argosy Gaming Company
November 29, 2004

According to the Cincinnati Enquirer, Argosy Gaming Company is staking its claim in Ohio. Argosy, an Illinois-based company, has reported that it has signed an agreement to buy Toledo’s Raceway Park and a Sandusky wagering facility for approximately $20 million. Argosy’s chief executive, Richard Glasier, commented that the company is using these purchases as an insurance policy for what might happen in Ohio if gambling is legalized. Specifically, Raceway Park was purchased with the foresight of this legalization in Ohio in the upcoming years. Ohio gamblers have been a large source of gaming income for the Argosy casino riverboat. The Argosy riverboat casino in Lawrenceburg accounted for 43 percent of the company’s total third quarter revenue.

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New Regulations for “Vegas” Nights in Cleveland
November 29, 2004

According to the Plain Dealer, the Cleveland City Council is adopting an ordinance to regulate “ Las Vegas” night events which permit casino-style gambling. Under the new regulations, the money raised from these events must go to charities or nonprofit groups. These events have recently come under scrutiny as law-enforcement has found that the private companies organizing these events were keeping millions of dollars from the charity organizations. According to local law enforcement officials, these new regulations will give them the authority they need to help curb these types of abuses.

The new regulations will require charitable “ Las Vegas” nights to: (1) register in advance with the city; (2) end the event by midnight; and (3) pledge that the card dealers and other workers at the event have not been convicted of a felony and are not being paid. Under state law dealers and other workers at such events are supposed to be volunteers for the charity which is sponsoring the event. In many cases, private companies offer to run the events for charities in exchange for a percentage of the profits, which is illegal.

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Indiana Casinos Have Increased Returns for Third Quarter of 2004
November 29, 2004

As reported by the Cincinnati Post, more than 2 million patrons attended the three riverboat casinos in Indiana during July, August and September and wagered more than $2.5 billion. This was a 6 percent overall increase in admissions compared to the third quarter of 2003.

The Argosy riverboat casino, which is the area’s largest casino, had an increase of 1 percent for both admission and wagering. The casino’s gross winnings, which are the gamblers’ losses, rose to $194 million for the three months. This is a 9 percent increase compared to the same period in 2003, which was $179 million. The Argosy’s $194 million for this year was approximately $96 for every patron which entered the boat.

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Native American Tribe Makes Plans to Construct Casino in Monroe, Ohio
November 4, 2004

As reported in the Middletown Journal, the Eastern Shawnee Tribe of Oklahoma has made plans to build a $250 million gaming complex in Monroe, Ohio. Proponents of casino gambling see this as an economic gain that would create jobs and generate millions of dollars in revenue for the state. The site for the proposed casino is along Interstate 75, where the tribe and their Ohio gaming development arm, National Capitol I, have entered into an agreement to purchase approximately 150 acres from the property owners, Corridor 75 Park Ltd.

The Shawnees originally planned on Middletown, Ohio as the future sight for the casino, but uncertainty surrounding the success of this location prompted the tribe to shift their attention to Monroe. A majority of the local officials in Monroe support the construction of this casino hoping it will promote economic development in the area.

Many state officials have expressed their opposition to the introduction of casino gambling in Ohio. According to an article in the Cincinnati Enquirer, Governor Bob Taft has openly resisted the efforts of the Shawnee tribe, which he made clear in a letter sent to a citizen’s group in Botkins, Ohio shortly after plans for the casino were announced. Terry Casey, a consultant from National Capitol I, has worked with the Shawnees to put together a package announcing the future sites for three to five more casinos, along with proof that the tribe is licensed by the National Indian Gaming Commission. The package will be presented to Governor Taft for consideration. The tribe hopes to construct a Class III gaming facility, which would allow for slot machines, roulette, blackjack, and craps tables. Current Ohio law would only allow the tribe to operate Class II gambling, which includes bingo, games of chance, pull-tabs, and horse racing.

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All applicants licensed in the State of Ohio to conduct charitable bingo at any time during the previous bingo year (November 1, 2003 through October 31, 2004) must file their Renewal Application before December 31, 2004. As you may already know, the Renewal Application is different (and less extensive) than a Comprehensive Application for new applicants.

The Renewal Application will specifically ask applicants to report whether there have been any changes to the applicant's tax-exempt status, articles of incorporation, charitable purpose or mission, or parent organization. In addition, the applicant must report whether it has changed any of the charities, causes or organizations that it supports and whether it has received any gambling citations in the last 12 months.

Previously licensed applicants will receive their 2005 Renewal Application the end of October or early November. If the renewal applications are filed timely (before December 31), applicants should receive their temporary license by the end of January.

All applicants, except those who are exempted pursuant to Section 1716.03 of the Revised Code, are also required to refile their Charitable Organization Registration Statement along with an annual financial report. This annual filing must be filed on or before the 15 day of the fifth calendar month after the close of each fiscal year in which the charitable organization solicited contributions.

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