Greater Cleveland Partnership Backs Casinos
October 31, 2005
An associated press article recently reported that the board of directors of the Greater Cleveland Partnership has approved a plan that will attempt to form a coalition of gaming interests in Ohio and advocate for legalized casino gambling. Alexander Cutler, chairman of the board of directors of the GCP has admitted that casino gaming will not solve all of the state's problems, but believes that a well-formed policy on the issue will keep gaming dollars in the state.
The Partnership's proposal is based on five main goals: (1.) gaming tax revenues must be shared among all Ohio communities; (2.) set criteria for site selection must be developed; (3.) a significant portion of new gaming revenues should be earmarked for treatment and prevention of gaming addiction; (4.) rules for the governance of the gaming industry must be developed and license fees earmarked for state and local development; and, (5.) local concerns such as ownership interests in and locations of casinos, as well as minimizing local product substitution must be addressed.
Cleveland Poker Festival a Success
October 31, 2005
The Plain Dealer announced that the charitable poker festival held this past summer at the Nautica facility in Cleveland will be held again next year. This year's 12-week poker festival earned approximately $424,000.00 for charities. The festival was organized by developer Jeff Jacobs, the CEO of Jacobs Investments, who stated that the poker festival was designed to "help charities weather a tough economy and model the West bank as a future site for a casino" if gambling comes to the state. Under current Ohio law, Jacobs was prohibited from receiving any profit from the venture. Kegler, Brown, Hill & Ritter provided regulatory counsel that assisted Jacobs in producing the festival.
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