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Gambling
Casino operator Centaur aims to exit bankruptcy much leaner
August 21, 2010
Scott OlsonCentaur plans to sell a casino west of Denver and a stalled casino development near Pittsburgh.
MoreCentaur ready to sell Pennsylvania racetrack-casino project
August 11, 2010
Associated PressIndianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer
ownership of Valley View Downs.
MoreIndiana Downs cancels horse races after complaints
August 4, 2010
IBJ Staff and Associated PressThe Shelbyville track's final race on Monday was canceled after a horse pulled up lame and was later euthanized. The track
canceled its full card of Tuesday races.
MorePennsylvania, Indiana top Nevada in gambling taxes
July 27, 2010
Associated PressPennsylvania's tax revenue from commercial casinos approached $1.1 billion in the fiscal year that ended June 30. Indiana
was second with $878 million and Nevada third with $831 million.
MoreMoody's upgrades outlook for U.S. gambling industry
June 26, 2010
IBJ StaffIt may take some time to trickle down to Indiana, but the American gambling industry is starting to show early signs of recovery.
MoreGovernor backs card counter banned by casino
May 25, 2010
Associated PressIndiana Gov. Mitch Daniels used the story of a blackjack player's lawsuit in telling Franklin College graduates about using
skill to push the odds in one's favor.
MoreCentaur's junior lenders press for bankruptcy liquidation
April 13, 2010
Peter SchnitzlerUnsatisfied with the Hoosier Park owner's reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion
of Chapter 11 bankruptcy into Chapter 7.
MoreCentaur bets on risky restructuring plan
April 10, 2010
Peter SchnitzlerBankrupt Hoosier Park owner Centaur Inc. has offered its creditors a risky reorganization plan. For it to work, dozens of
hedge funds must stay in the game, in return for a chance to buy a big chunk of the company later.
MoreIndiana high court hears casino card-counting case
April 7, 2010
Associated PressAn Indianapolis man sued the Grand Victoria Casino and Resort after it banned him from the blackjack table in 2006. The casino
won the suit, but the state appeals court reversed that decision. The casino asked the high court to weigh in.
MoreDowngrade a red flag for Indiana Live casino
April 3, 2010
Peter SchnitzlerNew York-based Moody's Investors Service has downgraded its credit rating for Indiana Live horse track and casino, a warning
signal that the Shelbyville facility may soon follow its Anderson counterpart Hoosier Park into bankruptcy.
MoreIndiana takes over third place in gambling revenue
March 17, 2010
IBJ Staff and Associated PressIndiana's reign at No. 3 may not last more than a year. It faces new competition from Ohio and possibly Kentucky.
MoreHoosier Park owner seeks to reorganize $680M in debt
March 8, 2010
Peter SchnitzlerCentaur LLC, which filed for Chapter 11 bankruptcy protection on Sunday, plans to sell its Colorado casino. Much of its debt
was incurred to upgrade
Hoosier Park in Anderson and add its slots parlor.
MoreHoosier Park owner Centaur files for bankruptcy protection
March 7, 2010
Indianapolis-based Centaur LLC, owner of Hoosier Park horse track and casino in Anderson, filed for Chapter 11 reorganization
on Sunday. The company's casino, racing and hotel operations will continue without interruption, it said.
MoreMARCUS: Hoosiers hear gospel of gambling
March 6, 2010
Morton MarcusGamblers wagered nearly $30 billion in 13 Indiana
casinos last year. Now, fellow taxpayers, if I understand these numbers, 91 percent of these dollars were returned as winnings
and an additional $876 million (3 percent) went to our state and local
governments for our benefit.
MoreGambling to remain an issue in General Assembly
February 13, 2010
Associated PressIssue likely to land in House, Senate conference committee.
MoreNewly opened racinos already face credit crunch
December 26, 2009
Peter SchnitzlerClear signs emerged in 2009 that the Hoosier gambling market is oversaturated.
Major credit rating agencies expressed concerns that several casinos, including the state’s new horse track “racinos”
on the outskirts of Indianapolis, might go bust before the year was finished.
MoreBills in General Assembly would ease costs for casinos
December 19, 2009
IBJ StaffThe Indiana General Assembly is taking its first steps toward restructuring Hoosier gambling law.
MoreIndiana weighs changes to combat out-of-state casinos
December 13, 2009
Associated PressState lawmakers are weighing possible changes to state gambling laws at a time when growing competition from out-of-state
casinos threatens to cut into business at Indiana's 11 riverboat casinos.
MoreIndiana casino owner declares bankruptcy
November 23, 2009
IBJ Staff and Associated PressMajestic Star Casino LLC owns two casinos and a hotel in Gary, a casino-hotel in Tunica County, Miss., and a casino in Black
Hawk, Colo.
MoreSupreme Court to hear gambler's suit
November 8, 2009
Associated PressThe Indiana Supreme Court will hear arguments this week on whether an Ohio River casino should have allowed a compulsive gambler
to play and lose $125,000 in a single night.
MoreOhio casino question could affect Indiana
November 2, 2009
IBJ Staff and Associated PressOhio voters are poised to weigh in on a ballot question that would authorize casinos in Cincinnati, Cleveland, Columbus and
Toledo.
MoreHoosier Park owner misses $13.4M loan payment
October 29, 2009
Peter SchnitzlerIndianapolis-based Centaur LLC, owner of Anderson's Hoosier Park horse track and casino, missed a $13.4 million interest payment
due Tuesday on its more than $400 million in outstanding debt, putting the company in default with its lenders.
MoreEDITORIAL: State can't rely on gambling revenue
October 24, 2009
IBJ StaffState and, to some extent, local government
has come to rely on gambling revenue. And now that neighboring states are launching a competitive
assault on Indiana casinos, it’s time to get back to the original intent before the revenue shrivels and leaves necessary
government services high and dry.
MoreCash-strapped Hoosier Park racing to restructure $400M in debt
October 17, 2009
Peter SchnitzlerDespite rampant speculation, Anderson’s Hoosier Park is not facing imminent bankruptcy, according to its owner, locally
based Centaur Inc.
MoreSlots revenue revives hopes of state's horse breeding industry
September 19, 2009
Kathleen McLaughlinPurses at Hoosier Park in Anderson and Indiana Downs in Shelbyville have swollen since the two tracks added slot machines
in June 2008.
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!