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Lyle Berman gets behind Ohio casino push
At the end of April, Lakes Entertainment announced it had partnered with MyOhioNow.com to pursue the development of a casino resort in Ohio.
Ohio voters have voted down the idea of allowing casinos in the state three separate times since 1990, but that isn't deterring the casino development and management company run by Lyle Berman.
Lakes Entertainment currently has development and management or financing agreements with four separate Native American tribes for casino operations in Michigan, California and Oklahoma. It is also involved in other business activities, including owning approximately 61% of MyOhioNow.com will find information about the casino project as well as gambling fact sheets and documentation of how regional casinos have impacted other states.
MyOhioNow.com is an Ohio-based limited liability company that was formed by lifelong Ohio residents Dr. Bradford Pressman and Rick A. Lertzman. Their vision is to bring a world-class destination resort with Midwestern sensibilities to Ohio.
"Rick and Brad have been instrumental in communicating the benefits of the casino and gathering the signatures for the referendum," said Tim Cope, president and CFO of Lakes.
"We plan on supporting their efforts through strategic advice and financial assistance that is necessary to get the referendum on the ballot, and then developing a truly first class casino resort of which all of Ohio can be proud. We have the gaming expertise and MyOhio understands the people and issues of Ohio. That makes this a great partnership."
Under the current development plan, construction of the casino would be expected to commence within 12-18 months after the referendum is approved. The casino would open about 18 months after construction begins.
The casino is expected to employ 5,000 people and could generate more than $200 million in gaming tax revenues. Under the MyOhioNow.com plan, that revenue would be divided directly among all 88 Ohio counties on a per capita basis.
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