Hoosier Park parent set to emerge from bankruptcy
Hoosier 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.
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Law change eyed to help Indiana casinos compete
Indiana casinos could save an average of $1 million per riverboat each year under a proposal that would allow them to quit using captains and crews and maintain motors that have been obsolete since the state allowed the boats to remain docked.
Indiana Live owners miss interest payment
The 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.
Indiana Live swamped by debt, faces potential default
Owners 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.
Indiana Supreme Court rulings uphold casino rights
The court issued a pair of split rulings bolstering the rights of casinos by ruling against a woman who said a riverboat preyed on her gambling addiction and a card counter who sued for the right to play blackjack.
Southern Indiana’s Grand Victoria Casino sold for $43M
Las Vegas-based Full House Resorts on Monday announced plans to purchase the riverboat casino in Rising Sun, saying it could improve profitability.
Indiana casino commission: Staffer hid complaints
The commission found the misconduct after an internal review about why 56 of 154 complaints made against the casinos during 2009 had gone unanswered.
Centaur wins approval to sell Colorado casino
Luna Gaming Central City LLC is paying $7.5 million in cash plus a $2.5 million note, less adjustments. There were no competing
bids.
Casino operator Centaur aims to exit bankruptcy much leaner
Centaur plans to sell a casino west of Denver and a stalled casino development near Pittsburgh.
Centaur ready to sell Pennsylvania racetrack-casino project
Indianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer
ownership of Valley View Downs.
Indiana’s two busiest casinos see opposite trends
Indiana's two busiest riverboats each saw big swings in their business last month, with the top Lake Michigan casino seeing
an 11 percent jump in revenue and the leading boat on the Ohio River recording an equal decline.
Indiana Downs cancels horse races after complaints
The 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.
Pennsylvania, Indiana top Nevada in gambling taxes
Pennsylvania’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.
Shelbyville, county plan economic development projects
Millions 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.
New law will hold casino winnings of deadbeat parents
The state is working to build an online system that will allow casinos to check the names of winners against a database of
people who owe child support, said Mike Smith, president of the Casino Association of Indiana.
Gary casino appealing $27 million in taxes
Officials say they believe a northwestern Indiana casino might owe $5 million more in back property taxes than previously
estimated.
Moody’s upgrades outlook for U.S. gambling industry
It may take some time to trickle down to Indiana, but the American gambling industry is starting to show early signs of recovery.
Gary mayor wants casino taxes paid before license vote
Gary Mayor Rudy Clay is calling for the Majestic Star casino to pay $22 million in overdue Lake County taxes before state
regulators vote on whether to renew the Gary casino's license.
Governor backs card counter banned by casino
Indiana 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.
Centaur’s junior lenders press for bankruptcy liquidation
Unsatisfied 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.