In its first report to Wall Street since Ohioans approved four casinos last week, the developer of two of the casinos did not predict that it would get rich quick as a result of the passage.

Penn National Gaming Inc., which will own and operate casinos in Columbus and Toledo, said that Ohio will be one of its key new markets but made no predictions on how profitable the casinos would be.

Penn National, which is based in Pennsylvania, teamed up with Michigan executive Dan Gilbert on the Ohio Jobs and Growth Plan, which sponsored the casino ballot measure. It passed with 53 percent of the vote last Tuesday. Gilbert is to get casinos in Cleveland and Cincinnati.

The company also noted that Gov. Ted Strickland still hopes to install a type of slot machine known as video lottery terminals at racetracks, including one it owns in Toledo.

"As is the case in most jurisdictions where gaming legislation is being introduced, both the Ohio Jobs and Growth Plan and the placement of video lottery terminals at Ohio racetracks are subject to regulatory refinement, implementation and litigation risks, all of which are difficult to assess at this juncture," Penn National said in a regulatory filing yesterday.

jnash@dispatch.com