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Friday, April 15, 2011

Ohio Hires Gaming Consultants

Posted By on Fri, Apr 15, 2011 at 1:49 PM

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Team Kasich has gone ahead and hired the long-promised casino experts, the crew that will put a microscope to the state’s gaming industry and decide how best to proceed (to VLT? Or not to VLT? That’s the main question). Specifically, they’ve locked in with two firms, a gaming expert and financial expert. At $400 an hour.

According to the Plain Dealer, the Spectrum Gaming Group, straight outta New Jersey, will handle questions regarding the expansion of the state’s industry beyond the lottery and four voter-approved casino projects. Los Angeles-based Moelis & Company, a “mergers and acquisitions” outfit, will look into new fees and taxes that could be slapped onto developers.

The timeline here is pretty interesting. Previously, the administration hadn’t put out any idea of how long the consultants’ work would last. Now, the Spectrum Group’s “work could last up to two years,” Moelis’ “six months to a year,” according to reports.

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