Casino investor Jeff Jacobs has found a temporary compromise to satisfy his longing to see a casino built in Ohio: charity poker. Jacobs and Cuyahoga County commissioners are currently in talks to launch a charity poker venture on the banks of Cleveland's Cuyahoga River. If the deal goes through, Jacobs plans to build a 20,800-square-foot air-conditioned tent, which on summer weekends will host charity poker games. The tent will be able to seat 300 people, who will have to pay between $10 and $15 an hour to play.
Although unlikely to be a profitable investment due to Ohio's gambling regulations, Jacobs is willing to invest at least $350,000 in the charity poker project. According to Ohio's charitable gambling laws, all proceeds must go to non-profit organizations. The poker games are expected to earn at least $50,000 a weekend for charities, even after laying down the $30,000 in fees to use the venue.
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