OH gov, developer reach deal on remaining casinos - Cincinnati News, FOX19-WXIX TV

OH gov, developer reach deal on remaining casinos

Ohio's governor says he's reached a deal with the developer of casinos in Columbus and Toledo.

Gov. John Kasich said Friday that the agreement with Penn National Gaming Inc. brings the state an additional $110 million over 10 years.

Kasich reached a similar resolution this week with the developer of casinos in Cleveland and Cincinnati.

State lawmakers had tucked a provision into the state budget that applied the commercial activity tax to bets wagered at casinos without deducting winnings and payouts. Operators said it would add tens of millions to their costs.

Both agreements tax the companies on wagers minus payouts. Penn would be required to invest $700 million in its facilities, up from $500 million agreed to the state constitution.

The company says it can now move forward.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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