Hilbert backing Centaur's 'racino' projects

October 30, 2007

Stephen Hilbert's private equity firm is providing some of the $1 billion in financing that Indianapolis-based Centaur Inc. has assembled to fund "racino" projects in Anderson and near Pittsburgh.

Centaur this afternoon said it had closed on the financing, which will fund the addition of 2,000 slot machines at Hoosier Park in Anderson. Included in the cost of the project is a $250 million license fee mandated by the state. Another $600 million will fund the proposed Valley View Downs near Pittsburgh. That venue would feature a horse track and slot machines. The company awaits final regulatory approval there for that project.

A press release did not say how much in financing was provided by Hilbert's firm, MH Equity.

Hilbert, Conseco's former CEO, and his wife, Tomisue, founded MH in 2005.

"MH Equity is an essential part of Centaur's strategy for the future," said Rod Ratcliff, Centaur's CEO.

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