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Horse Tracks
Hoosier 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.
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.
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.
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.
MoreState gambling revenue expected to stay flat
August 24, 2009
Scott OlsonIndiana’s share of tax money generated by the state’s 13 casinos is expected to remain relatively flat for at
least the next few years, a state fiscal analyst told Gaming Study Committee members this morning.
MoreFEIGENBAUM: Historic milestone in gambling industry approaches
July 27, 2009
Ed FeigenbaumIndiana has made billions on gambling in nearly two decades, funding key programs, cutting excise and property taxes, and
avoiding tax hikes. The state has seen more than $2 billion in investment without any government incentives,
and more dollars committed in our history than by any industry outside of steel, power and autos.
MoreLegislature snubs casinos, but forms study committee
July 6, 2009
Peter SchnitzlerIndiana's struggling gambling industry didn't get the relief it sought during the special session of the Indiana General Assembly.
But embedded within the budget bill approved June 30 is a provision creating a gambling summer study committee. Its recommendations,
due by Dec. 1, may make or break several of Indiana's casinos.
MoreGambling habit puts state at risk
April 6, 2009
The state's overreliance on gambling, what once seemed like easy money, is becoming a major concern to taxpayers.
MoreState's gambling jackpot may have reached its limit
March 30, 2009
Peter SchnitzlerHoosiers' long ride on the gambling gravy train finally may be coming to an end.
MoreCash-strapped gambling firm pushing bill in Legislature; Centaur trying to recover from Pennsylvania setback
February 2, 2009
Peter SchnitzlerCentaur is lobbying the Indiana General Assembly to let it transfer 500 slots from its Hoosier Park horse track in Anderson
to the Fort Wayne area.
MoreTwo central Indiana racinos debut amid tough economy
June 2, 2008
Peter SchnitzlerThe next few weeks will be critical for the state's two new racinos, which need to open with a splash to meet their ambitious
projections of drawing more than 3 million visitors apiece annually. Hoosier Park in Anderson will open June 2, and Indiana
Downs in Shelbyville will follow a week later.
MoreGambles paying off for Centaur CEO
November 5, 2007
Peter SchnitzlerThrough persistence and sheer pluck, Rod Ratcliff has become a player in the gambling industry--one many businesses try to
break into, most without success. On Oct. 30, his Indianapolis-based company, Centaur Inc., closed a $1 billion financing
deal that will fund gambling projects in three states.
MoreIndiana Downs buyout nearing finish line
August 6, 2007
Peter SchnitzlerThe high-stakes competition for control of Indiana Downs has entered the homestretch. And South Bend-based Oliver Racing LLC
is poised to win.
MoreHorse track owners vie for control
June 25, 2007
Peter SchnitzlerIndiana's two horse tracks could change hands as investors race to come up with the $250 million required to add thousands
of slot machines. The steep cost of a state license combined with the potential of a lucrative payoff has stakeholders in
Shelbyville-based Indiana Downs and Anderson-based Hoosier Park jockeying for position.
MoreRacinos may push gambling's limits
May 14, 2007
Peter SchnitzlerDuring their first half-decade in operation, the state's casino slots machines grew their total sales to $22 billion,
according to Indiana Gaming Commission records. But in the last five years, slot sales grew just 18 percent, reaching $25.9
billion in 2006. That's what business textbooks call a maturing market.
MoreOff to slow start, French Lick fears threat from 'racinos'
February 26, 2007
Peter SchnitzlerFrench Lick Resorts & Casino is already struggling, less than four months after its launch. And the casino's owners are downright
terrified legislators soon will allow both of the state's horse-racing tracks to become "racinos" and add up to 5,000 slot
machines.
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Can IBJ please stop referring to this property as "Kessler Mansion"? What a ridiculous title for the biggest, bloated, blight in our city. It's not a mansion. At best, it's an ideal site to shoot low-budget porn. Ahhh! Another business use!
Its stories like these that prove that a Ball State diploma is worth less than the paper that its printed on. A real institution of higher learning would have taken care of this long ago. No way should this crap be taught in a SCIENCE class.
It is such a shame that King Ballard has made Indianapolis into Chicago south with all of the rampant corruption.
How many of these 1,259 bills were actually heard and voted on on the floor vs how many were shot down in committee?
When a an arrogant young guy with essentially no experience and no qualifications for the job, was dropped into an Administrator position out of nowhere by his "mentor" in the Mayor's office things seemed fishy. Sometimes things are what they seem.