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Rock Ventures LLC has announced that it has completed the purchase of Broadway Commons. The 20-acre site in downtown Cincinnati is where the company plans to develop a casino.
Rock Ventures is the holding company for casino investor Dan Gilbert, who also owns the Cleveland Cavaliers, and gained the exclusive rights to develop casinos in Cincinnati and Cleveland when voters approved the project last November.
The casino is expected to open by mid-2012. Rock Ventures President and Chief Operating Officer Matt Cullen say that the company paid $35 million for the land and now needs to hire a casino operator.
Rock Ventures hopes to name an operator by the end of April, however Cullen also said they my be forced to take their time to create the perfect project.
“We want to create a casino that will tie into the community,” he said. “If you look at the other casinos across the country, you won’t see a good example of a facility tied into the urban fabric the way we want to do it.”
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