Thursday, February 16, 2012

Horseshoe Casino Cleveland Fact Sheet



Fact Sheet – January 2012



 Downtown Cleveland is expected to host the first fullservice casino in Ohio, Horseshoe Casino Cleveland,
when it opens in May 2012; it is expected to generate
5 million visits annually.

 It will be developed by Rock Ohio Caesars LLC (ROC), a
joint venture partnership between Rock Gaming LLC
and Caesars Entertainment Corporation. Caesars will
manage the casino’s day-to-day operations.

 The Phase I casino will be located in the Historic Higbee
Building at Public Square, adjacent to the city’s
entertainment district. ROC expects to invest more
than $350 million to transform four floors of the
building (300,000 sq. ft.) into a first-class gaming
destination.  A new parking and welcome center with
street-level retail will also be developed next to the
project.

 Plans call for the 96,000 sq. ft. gaming floor to offer
approximately 2,100 slot machines, 63 table games, a
30-table World Series of Poker® room and a VIP players
lounge. A buffet restaurant, a modest food court and a
main-floor feature bar will round out the food,
beverage and entertainment offerings. Discussions are
ongoing with local hotels and restaurants interested in
partnering with the casino to service Horseshoe guests.

 The construction process will employ nearly 2,000
workers. Through December 2011, ROC awarded
construction contracts valued at $98.8 million with
46.6% awarded to MBE and WBE certified companies.

 Horseshoe Cleveland is expected to create 1,600 casino
jobs upon opening. The property has committed to hire
90% of its employees from the Cleveland metropolitan
area.

 The casino is projected to generate $100 million
annually in gaming tax revenue.  Local distribution of
gaming taxes is expected to provide approximately
$29.7 million to the City of Cleveland, $18.7 million to
Cuyahoga County and $22.5 million to Cuyahoga
County school districts during its first full year of
operations.

 Land has also been acquired to develop a Phase II
casino along Huron Road overlooking the Cuyahoga
River. As a truly urban casino, the development will be
designed to include outward facing restaurants and
retail to engage pedestrians and support existing
cultural, nightlife and sports attractions downtown.

 Marcus Glover will serve as general manager of
Horseshoe Cleveland, and is responsible for ensuring
that the casino is developed to maximize connectivity
and economic impact, while upholding Caesars’ worldclass operating standards.

 ROC is also developing a second urban casino in
downtown Cincinnati, which is expected to open in
spring 2013.

 Rock Gaming LLC is a Midwest-based gaming
partnership formed with an initial focus to develop
first-class casinos in two of Ohio’s largest cities, as well
as to explore other potential gaming opportunities.
Dan Gilbert, chairman of Rock Gaming, is also majority
owner of the NBA’s Cleveland Cavaliers and AHL’s Lake
Erie Monsters, and chairman and founder of Quicken
Loans Inc. Through these and other business interests
in the State, Gilbert employs nearly 2,000 Ohioans.

 Caesars Entertainment is the world’s most
geographically diversified casino entertainment
company, with 52 casino resorts in 6 countries and the
most recognizable brands in gaming, including:
Caesars, Horseshoe, Harrah’s, Total Rewards and World
Series of Poker. The company is led by Chairman, CEO
and President, Gary Loveman.

 Ohio voters approved a state constitutional
amendment in November 2009 authorizing casinos in
the state’s four largest cities: Cleveland, Cincinnati,
Columbus and Toledo. As approved in the ballot issue,
gross casino revenues will be taxed at 33 percent, one
of the highest rates in the nation for a resort casino
with this level of investment.

 Portions of the tax revenue are designated for: public
school districts; the host cities; all 88 state counties;
the Ohio State Racing Commission; law enforcement
training; and research and treatment of problem
gambling and substance abuse.

 The bipartisan Ohio Casino Control Commission will
also be funded by casino tax revenue to develop rules
for casino gaming in Ohio, to license operators and to
regulate and ensure the integrity of operations.

 The amendment requires a minimum $1.2 billion
investment, inclusive of infrastructure/construction
and state licensing fees. The total investment in the
state’s four casino projects is expected to significantly
exceed that minimum.

 Horseshoe Cleveland Timeline Goal:
(subject to regulatory approvals)
2011
– Interior construction begins
– Vendor sourcing begins
– Employee recruiting begins
2012
– Construction ends
– Obtain gaming license from Ohio Casino Control
Commission
– Horseshoe Casino Cleveland Grand Opening May 2012

WWW.HORSESHOECLEVELAND.COM







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