Thursday, August 21, 2014

Report: Detroit-based Rock Gaming entity fined $200,000 by Ohio Casino Control Commission

Posted By on Thu, Aug 21, 2014 at 3:56 PM

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A subsidiary of Rock Ohio Caesars, a joint venture between Dan Gilbert's Rock Gaming and Caesars Entertainment, was fined $200,000 this week after it failed to disclose to the Ohio Casino Commission that a loan refinancing wasn't complete, according to cleveland.com.

The commission announced the fine Wednesday, according to the report; Matt Schuler, executive director of the commission, told cleveland.com, "Financial suitability of casino operators is one of the cornerstones of casino control law."



In a statement, Matt Cullen, president of Rock Ohio Caesars, said: "ROC Finance LLC, the sole entity and owner of casino properties in Cincinnati and Cleveland, fully recognizes the disclosure and notification requirements of the OCCC. In the process of restructuring a significant enhancement to our financing deal for the company we unfortunately did not notify the OCCC. ROC Finance has swiftly taken the necessary steps to refine our internal processes, policies and procedures related to debt transaction requests to ensure future compliance."

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