Horse Tracks
Kentucky governor: Casino gambling bill coming soon
January 25, 2012
Associated PressA long-awaited proposal to open Kentucky to casino gambling so it can compete with neighboring states could be introduced
in the state's Senate within days.
MoreIndiana Live asks court for $23 million tax refund
December 10, 2011
IBJ StaffBankrupt racetrack and casino asks for help recovering money from Indiana Department of Revenue.
MoreAgency endorses big cut to state horse racing’s $58M subsidy
November 16, 2011
Scott OlsonThe Indiana Inspector General recommends in a report that the annual subsidy paid to the state's horse racing community be
reduced by more than half, to $28 million.
MoreCourt sides with racinos in tax dispute with state
October 27, 2011
Francesca JaroszA federal bankruptcy court has sided with two Indiana racinos in a dispute over their tax burdens, a ruling that could reduce
the total amount they pay into state coffers by as much as $30 million per year.
MoreBig name in horse racing banned from tracks
October 15, 2011
Kathleen McLaughlinEd Martin Jr., the former car dealer who helped create Indiana’s horse-racing industry, these days isn’t even
welcome at the state’s tracks. The Indiana Horse Racing Commission banned Martin after he refused to obtain a license,
but he filed a lawsuit in Marion Superior Court last month seeking to overturn the decision.
MoreAnderson racino emerges from bankruptcy
October 4, 2011
Francesca JaroszThe parent company of Anderson racetrack and casino Hoosier Park has officially emerged from bankruptcy. The original shareholders
of Centaur Inc., about 80 individual Indiana investors, lost their entire investment in the company.
MoreIndiana Live to get federal hearing on tax matter
September 10, 2011
IBJ StaffShelbyville racetrack and casino could save millions if it successfully contests the way Indiana interprets state tax law.
MoreCordish can press suit against CEO of Indianapolis Downs
August 26, 2011
IBJ Staff and Bloomberg NewsCordish Co., a real-estate developer building a casino near Baltimore, can pursue a defamation lawsuit against the CEO of
its bankrupt former business partner, Indianapolis Downs LLC, a judge said Aug. 26.
MoreIndiana Downs owner halts lawsuit amid bankruptcy
May 18, 2011
Bloomberg NewsCordish Cos., a real-estate developer trying to build a casino near Baltimore, must temporarily halt a defamation lawsuit
against the chief executive officer of Shelbyville casino owner Indianapolis Downs LLC, a federal judge said Tuesday.
MoreSuitors circle faltering racino
March 5, 2011
Francesca JaroszTwo racetrack owners have signaled they’re interested in buying Indiana Live racetrack and casino in Shelbyville as
the facility begins to sort out its massive debt.
MoreCourt OKs reorganization plan for Hoosier Park owner
February 22, 2011
Bloomberg NewsHoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million
and exit bankruptcy.
MoreEx-manager files $600M suit against Indiana Live owners, others
February 21, 2011
Scott OlsonMaryland-based Cordish Cos. says the casino owners withheld $8.4 million in payments and conspired with other groups trying
to sabotage its plans for a Maryland gambling facility.
MoreBudget would take slice out of growing horse industry
February 19, 2011
Francesca JaroszA move by budget-makers to tap the kitty that feeds the state’s horse-racing industry could deal a blow to the business
just as Indiana is starting to gain ground on its neighbors.
MoreStatewide smoking ban bill clears House committee
January 19, 2011
Associated PressThe Indiana House Public Health Committee voted 9-3 to endorse the bill prohibiting smoking in public places and indoor work
sites—after it exempted casinos and pari-mutuel horse tracks from the ban.
MoreHoosier Park parent set to emerge from bankruptcy
December 28, 2010
IBJ Staff and Bloomberg NewsHoosier Park Racing & Casino’s parent company could emerge from bankruptcy early next year if creditors approve
a reorganization plan that’s set for a court hearing in Delaware on Feb. 1.
MoreIndiana Live owners miss interest payment
November 4, 2010
IBJ Staff and Bloomberg NewsThe owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing
additional fodder for credit analysts already worried about its financial condition.
MoreIndiana Live swamped by debt, faces potential default
October 16, 2010
Francesca JaroszOwners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in
debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
MoreCentaur wins approval to sell Colorado casino
August 27, 2010
Bloomberg NewsLuna Gaming Central City LLC is paying $7.5 million in cash plus a $2.5 million note, less adjustments. There were no competing
bids.
MoreCasino 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.
MoreShelbyville, county plan economic development projects
July 17, 2010
Kathleen McLaughlinMillions of dollars in tax revenue that flows from the Indiana Live casino to local government coffers will be set aside for
economic development. Shelbyville Mayor Scott Furgeson hopes to present new projects to the city council in the next month
or two.
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.
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.
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Members must realize if you stop paying your dues you will lose. Why else would your employer honor the rtw bill. Before you take this step think about what you may be giving up in the long run. Very little of your dues money goes to any dem candidate. YOu will never know how much your republican employer gives his party with money he could be paying the employee. Who will step up and demand better wages or benefits if you have no representation. Union is the way for a better life. Our carpenter union offers a 4 year apprenticeship and 2 year degree from Ivy Tech all paid for with union dues . This is a great opportunity for kids who cant afford schooling after high school. The same opportunity is there for any person,any age, either sex to provide a better living for their family. Pension, anuity, health insurance all for your dues. How is this a bad choice.
The FDIC is funded by assessments paid by banks, not taxpayers. That is not to say that bank customers don't ultimately pay the cost because, in the end, banks don't survive if they don't make profits.
SCB Bank's failure is expected to cost the government $33.9 million,dont you mean middle class another bailout our government has no money
Diogenes, the company did not call "pro-life" statements inflammatory. The IBJ article used the words "pro life."
All, the company did, is what it should do which is apologize profusely for offending people with a program that offered statements that support an infamous apartheid proponent, Dr. Verwoerd, suggest that sometimes rape is justified, and quote Biblical text to people, not looking for it.
If this is what you think is "insanity" then more companies need to behave insanely.
I totally disagree with $45mil being given to the state Attorney General's office. That money is a waste. All of the money should go to help the homeowners & the people who were foreclosed on. Why such a big percentage to state govt? They'll get to start another agency staffed with people who have new-found power & don't care about the people they serve. As soon as the program was announced, I knew the states would end up with a huge chunk of the money for themselves that would just be squandered. Or maybe Mitch Daniels will just happen to "find" another big chunk of money that was "posted in the wrong section of the state's books."