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Post by trackrat on Jun 28, 2011 19:21:54 GMT -5
It's my understanding that all seven of Ohio's racetracks, the thoroughbred and the standardbred tracks, are eligible to apply for video slots. The guidelines require a $150 million investment in the track/slot facility and another $50 million for a ten year operating license.
Giss has said that Northfield will not have a problem complying with the capital requirements for video slots. But what about the other Ohio tracks? There is talk that Raceway Park in Toledo may move their track operations to the Youngstown area... I believe they are now owned by Penn Gaming?
Of the seven tracks, I don't see Lebanon surviving.
I question Scioto too, since Columbus will have a new free standing, full service casinoa few miles up the road. In this depressed economy, is there enough disposable income to support four casinos and seven video slot facilities?
Any thoughts, board members?
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Post by jimhorseman on Jun 28, 2011 20:36:01 GMT -5
Trackrat:
Good to see you post again, and with me responding it almost seems like 2008 again.
To your question on whether there is enough disposable income to support four casinos and seven video slot facilities in the state of Ohio my answer is.....heck yes.
The Buffalo area is at least as depressed if not more so than the Cleveland area and is half the size. Within 30 miles of Buffalo there are four full service casinos and four video slot facilities - all thriving. Go out 90 miles from Buffalo and there are an additional four video slot facilities, again all thriving. If the greater Buffalo area by itself can support four full service casinos and numerous video slot facilities my guess is the entire state of Ohio can as well. I think the flaw in your question was is there enough DISPOSABLE income to support the casinos/video slots. You might be surprised at how high a priority pushing those slot buttons become to virtually the entire population. I know that my mom and mother-in-law; both very senior citizens love the casino despite rarely ever having gambled their entire lives. I end up taking them to a casino or video slot place for a few hours each month and they would go daily if I or someone else would take them. By the way, all the local tracks are thriving with the addition of the casino funds.
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Post by gtapp on Jun 28, 2011 20:41:49 GMT -5
I agree with Jimhorse. Scioto was purchased by Mountaineer with the whole purpose of positioning themselves when gambling came to Ohio. They new it was coming but not when or where. They may not have anticipated competition as close as Columbus but they will be a player.
There are about 10 "internet cafes" within 12 miles of Northfield (2 walking distance from the tract) that are cleaning up with the slots they have in there. There is NO SHORTAGE of customers especially on welfare payment day.
They make so much money they have constant cash drawings and even had a car giveaway recently.
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Post by thegiss on Jul 1, 2011 9:14:31 GMT -5
There is a good chance Lebanon will be moving closer to civilization and Raceway may move to Youngstown.
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