The Cleveland Plain Dealer reports that the majority owner of the Cleveland Cavaliers would be in the catbird seat with regard to casinos in major Ohio metro areas if Issue 3 passes in November.
The article states that the proposed casino in Cleveland would cost approximately $600 million, so not a small investment. As a comparison, Forbes.com estimated the value of the Cleveland Cavaliers NBA franchise at approximately $477 million. The Cavaliers are listed as the 5th most valuable franchise, after the Knicks, Lakers, Bulls and Pistons.
So when you see sports leagues wring their hands regarding the evils of gambling, can you be certain that the angst has more to with their inability to get their hands on that gambling money rather than the gambling itself?
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