Ohio casino buying Ritz-Carlton and office tower

CLEVELAND (AP) — Ohio’s first casino, opening early next year, announced plans today to expand its presence in downtown Cleveland with the purchase of the four-star Ritz-Carlton hotel and attached five-story office tower.

Rock Ohio Caesars said it will exercise an option to buy the hotel for $36.5 million. The casino operator also said it has acquired the office tower, which recently was sold in a mortgage default auction for $3.5 million.

The hotel and office tower are adjacent to the Horseshoe Casino Cleveland, which will open in March. The casino operator says it will use the bank office tower — vacant since 2008 — for administrative offices.

The casino is a joint venture between Caesars Entertainment and the Rock Gaming company led by Cleveland Cavaliers owner Dan Gilbert.

“Adding a luxury hotel and additional casino-support space to our portfolio of companies here is a meaningful opportunity for us as we prepare to open Ohio’s first urban casino in the heart of Cleveland,” Nate Forbes, a principal of Rock Gaming, said in a statement announcing the deals.