Ohio Casino Vote Endangers Indiana Riverboats

INDIANAPOLIS -- Developers of four new Ohio casinos are looking eagerly to the future, while surrounding states, like Indiana, are bracing for economic losses.

Casinos there could seriously damage Indiana's casinos and the hundreds of millions of dollars they pour into the state treasury every year, 6News' Norman Cox.

"The studies that we had done, as well as legislative services, show that it's going to have a pretty good impact," said Mike Smith, executive director of the Indiana Casino Association.

The casino going up in Cincinnati will seriously impact three Indiana casinos: Hollywood in Lawrenceburg, Grand Victoria in Rising Sun and Belterra in Vevay.

Hollywood General Manager Tony Rodio said his casino will be hit the hardest because 50 percent of its customers are Ohioans, but that he believes Hollywood's major expansion and improvement project will keep customers coming.

But an industry report recently given to the Legislature projects revenue losses of around $250 million for the three southeast Indiana casinos, which would reduce state revenues $100 million a year.

"Trying to take $100 million out of this budget is a daunting task, at best," said Rep. Randy Borror, R-Ft. Wayne.

Hoosier Park in Anderson could also suffer from the Ohio competition.

It has already told the Legislature that it might have to close its doors unless it gets tax breaks. Two of its affiliates in a Pennsylvania project have already filed for bankruptcy.

General Manager Jim Brown said it will survive if a planned debt restructuring takes place, but that could require it to go to bankruptcy court.

"We are looking for some assistance from our state legislature," he said, "perhaps to create a level playing field."