Ohio Voters OK Casinos in Major Cities

Columbus, OH (AHN) – The fifth time was a charm for gambling interests here after voters on Tuesday approved a measure to allow casinos in four cities.

The measure was passed with 53 percent of the votes on promises by backers that 34,000 temporary and permanent jobs would be created in this state that has an unemployment rate of 10.8 percent.

All four casinos will be built in about two years, predicted David Wilmott, president of Penn National Gaming Inc., which was a major backer of the measure.

Even before the first bet is placed, casinos have already put millions of dollars into the state’s economy. Penn spent about $35 million pushing what was called the Ohio Jobs and Growth Plan. TruthPac, which was supported by Jeffrey Jacobs, the chairman of a rival gaming corporation, spent $6 million opposing it.

Four previous attempts to introduce casinos dating back to 1990 were rejected by voters. The latest measure allows casinos to be built in Columbus, Cleveland, Cincinnati and Toledo. It was promoted as generating $643 million in annual tax revenue and $4 billion in economic impact.

Penn (PENN) shares were up 7.6 percent to $28.19 at closing on the Nasdaq.

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