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FINANCE: Mortgage lenders rethink their workforces amid shifting dynamics. PAGE 10
PAGE 19 CRAINSCLEVELAND.COM I OCTOBER 10, 2022
A COMPLICATED EQUATION GUS CHAN FOR CRAIN’S CLEVELAND BUSINESS
An enrollment crunch amid a bustling job market and rising college costs has placed Northeast Ohio’s higher education system at a turning point.
A student finds a quiet place to study at the Tinkham Veale University Center on the campus of Case Western Reserve University.
Real estate for $1, $50?
What you need to know about JACK’s sportsbooks
Startups see fractional ownership as future
BY JOE SCALZO
BY MICHELLE JARBOE
Since late September, more than 60 investors have signed up to purchase a stake in the company that owns the Washington, a new shortterm rental property in downtown Sandusky. They’re buying in for as little as $1. That investment model — designed to make real estate accessible to everyday people with a swipe on a smartphone screen — is the brainchild of Rhove, a Columbus-based startup. The company is one of a growing crop of players in the fractional ownership sector, which gives investors access to a piece of a property instead of the whole thing. See REAL ESTATE on Page 20
The Washington, a short-term rental property, opened in downtown Sandusky earlier this year. Rhove is offering an equity stake of up to $374,500 in the property through its app, where investors can buy in starting at $1 per share. | SETH MYERS
On Wednesday, Oct. 5, as Europe’s “The Final Countdown” played overhead, Matt Anderson stood inside the unfinished sportsbook at the JACK Thistledown racino and started talking about its March Madness potential. “We’re hoping for a full house,” said Anderson, a Medina resident who serves as the director of design and construction at JACK Entertainment. “We’ve got 76 total seats in here, and when it comes to the big games, we want this area to be populated, with everyone placing bets and having a good time.” That day is fast approaching. JACK’s leadership expects the sportsbooks at Thistledown and the downtown casino to be ready ahead of Jan. 1, when legalized sports gambling arrives in Ohio. (To that end, The Chainsmokers’ “Don’t Let Me
Down” also played during Anderson’s tour.) A handful of reporters got an early look at both sportsbooks, which will display the same odds as the ones found on the company’s “betJACK” mobile app. Here are three things to know: The downtown casino is bigger, and further along. The 6,000-square-foot JACK Cleveland casino will be located on the first floor, just off the Prospect Avenue entrance. It will have 99 seats, including 45 theater-style recliners with phone chargers. There also will be seven low-boy tables with four swivel chairs each; two small banquette-style seats with room for four people each; one large banquette-style table with six seats; and a 12-seat poker bar. See JACK on Page 20
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