Centaur approved to buy remaining stake in Hoosier Park

February 27, 2007

Centaur Inc. has been approved by the Indiana Horse Racing Commission to buy the 38-percent interest in Hoosier Park it doesn’t already own.

The deal is expected to close in mid-March. Anderson’s Department of Parks & Recreation approved the sale Feb. 20.

"We’ve been part of this project since day one and we’re proud to say that Hoosier Park will now be Hoosier-owned,” said Jeffrey Smith, CEO of horse racing for Centaur, noting that 90 percent of the investment group for the privately-held company is comprised of Indiana residents.

IBJ reported in June 2005 that Louisville-based Churchill Downs Inc. might be looking to unload the Anderson horse track.

Centaur has held a minority stake in Hoosier Park since it opened in 1994 as the first in the state to allow pari-mutuel betting.

Centaur owns a hotel and casino in Colorado in addition to Hoosier Park. The firm, which was an owner of the Argosy Riverboat Hotel & Casino in Lawrenceburg until 2001, has also been involved in the planning of a $340 million horse-racing track and casino near Pittsburgh.

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