One thing that is becoming clearer every day is that Penn National is maneuvering to build or buy something, but they truly have no intent to build a casino in Toledo if their ballot issue passes in November.
The Toledo proposal by Penn is nothing more than “smoke and mirrors” to secure “yes” votes out of Northwest Ohio for the statewide issue!
There is nothing in the ballot language that requires that all four casinos be built if the issue passes.
This deception will no doubt come back to haunt Penn National in the future, not just this November. Penn may be able to open a casino in Columbus, Ohio by spending over 300 million dollars for construction, and by funding this voter initiative that is costing over 40 million dollars, (of stock holder money) in order to change the Ohio State Constitution. Penn National needs to realize that in the future a voter initiative by another group, at a much lower cost to any group, could also close them down! This would leave Penn with a large building of little use to any other business.
If you live by the sword, you may also die by the sword!