Ohio Gambling Argosy

Indiana riverboat owner buying Ohio properties

The owner of an Indiana riverboat casino has bought an Ohio racetrack and a wagering facility in Sandusky, Ohio, in the hopes that the state might relax its gambling laws. Argosy Gaming Company says it has signed a deal to buy Raceway Park in Toledo and the Sandusky business for about 20 million dollars. Chief executive Richard Glasier is calling it an "insurance policy" in case Ohio changes its law. Argosy's riverboat casino in Lawrenceburg, Indiana, draws 43 percent of its business from the Cincinnati and Dayton areas. The Illinois-based company says it plans to expand its gambling space and add hotel rooms and parking. Glasier says Ohio is not likely to change its gambling laws in the near future but that it may happen years from now.