Rising Star Casino in Rising Sun, Ohio still is awaiting final permits to operate a ferry on the Ohio River. The ferry, expected to take its maiden voyage on July 4, would hold around 100 gamblers from Northern Kentucky and transport them to the casino. Rising Star Chief Executive Officer Daniel Lee, owner of Full House Resorts Inc., said, “It’s a pretty a big deal for us. It makes us physically closer to a lot of people.”
Lee had threatened to set up a tent at the U.S. Army Corps of Engineers’ Louisville office if permits weren’t issued by March 16. He said, “They’ve conversed with all the state historical preservation offices in both states and the environmental protection agencies in both states and the local Indian tribes and whoever oversees the bats with dots on their wings and stuff like that, and they have seen no reason not to issue our permit and they expect to issue our permit no later than mid-March.” Greg McKay, chief of the U.S. Army Corps North Branch Regulatory Division, said, “There are no real hold-ups at this point. We’re getting close.”
Full House’s site plan submitted to the U.S. Army Corps of Engineers shows the ferry would cross the Ohio River near the Mile 505 mark, just south of Middle Creek and north of Rabbit Hash, Kentucky. According to the play, the ferry could make three crossings an hour with a barge that holds 10 cars per trip. Hours of operation would be 8 a.m. to 10 p.m., Sunday through Thursday and 8 a.m. to midnight, Friday and Saturday.
Meanwhile, access roads are being built and Lee is planning “significant improvements” to the casino’s main entrance, including indoor trees, flooring, lighting and furniture. “We will have significantly refurbished the arrival by the time ferry service begins in early July,” he said.
The region’s oldest casino, Rising Star opened in 1996 as the Grand Victoria Casino and Resort. Revenue peaked at more than $160 million in 1998. Since then, five casinos opened in Cincinnati. Full House Resorts bought Rising Star for $43 million in 2011. It generated $45.6 million in total revenue last year, compared to Jack Cincinnati Casino with $198 million in revenue and Hollywood Casino in Lawrenceburg with $167 million.
Lee expects to boost revenue at Rising Star with the ferry. “I can tell you from our slot system, the people who live on our side of the river near our casino we receive, on average, about $150 per person per year. And the people directly across the river, 2,000 feet away in that zip code, we get something like $4 per person per year. And so, the ferryboat will be a pretty significant plus,” he said.
Lee added, once the ferry begins operations, “You’ll see margin improvement. It’s kind of a progressive tax rate in Indiana and we’re in the lowest tax rate of any casino on the state. And so, as our revenues improve quite a bit it falls to the bottom line.”
