The two will develop and operate casinos in Cleveland and Cincinnati.
Rock Ohio Caesars, at the request of city and regional leadership, is exploring the development of a Phase 1 casino plan in downtown Cleveland's historic Higbee building, which is in close vicinity to the new construction casino development.
Should it be concluded that a Phase 1 casino is a viable undertaking in the old Higbee building, it could open in late 2011 or early 2012 and create up to 1,600 jobs in the initial phase.
Rock Ohio Caesars expects to announce a decision about the Higbee project in the next 60 days.
A general manager for both the Cleveland and the Cincinnati casinos will be named in early 2011. Each manager will be responsible for ensuring the casinos operate under Caesars' world-class operating standards, provide good-paying jobs in the community and serve as good corporate neighbors.
Ohio voters approved full-service gaming, including the development of a casino in each of the state's four largest cities, in a November 2009 constitutional referendum.
The venture envisions that these urban casinos that will create jobs, spur local economies and increase tax revenues throughout the State of Ohio.
Rock Ohio Caesars is expected to invest $600 million to develop the Cleveland casino, which will sit between the bank of the Cuyahoga River and Huron Road in the heart of the downtown entertainment district.
The gaming operation is projected to attract eight million visits to downtown Cleveland annually.
More than 8,000 direct and indirect construction and permanent jobs are expected to be created by the development and operation of the casino.
The Cincinnati casino will be built on 20 acres of vacant property on the downtown's northeast side known as Broadway Commons.
The estimated $400 million new development is expected to drive six million visits to downtown Cincinnati, while creating nearly 1,700 jobs at the casino.
In all, approximately 4,700 direct and indirect construction and permanent jobs will be created by the