Sorry, posted that response from my phone.
Yes, you're correct. The Cleveland Horsehoe Casino that just opened is considered phase one of the overall project. Dan Gilbert purchased land in the city for 85 million where he is going to build phase 2. Basically a huge state of the art casino. This is supposed to be completed by late 2013 or early 2014.
I know Rock Gaming has a 5 year lease with Forest City for the space in the Higbee building. So both casinos will operate simultaneously for at least a few years. After the lease is up they will either close the original casino or renew the lease and continue to operate both.