Two foreign companies have dropped out of the bidding to become the first private manager of Indiana's lottery, with one charging the state's process encourages bidders to set expected revenue levels too high.
Two foreign companies—one based in Australia, the other in the United Kingdom—are among four firms competing for a chance to become the first private manager of Indiana’s lottery.
Illinois Gov. Pat Quinn on Tuesday rejected a bill to expand gambling in the state, including a new land-based casino in Chicago, saying the proposal lacked sufficient regulatory oversight. The plan proposed four new riverboat casinos and allowing slot machines at racetracks.
The Illinois Lottery is not a model Indiana should follow in seeking a private manager to boost revenue, according to Illinois’ own lottery chief. Hoosier Lottery officials say they’ve taken steps to avoid the problems Illinois had with its privatization contract, but several key elements of the process mirror Illinois’.
The $791 million Hoosier Lottery threw open bidding July 11 for a 10-year contract on marketing, sales and distribution services. The lottery wants to be among the fastest-growing in the country, and it’s looking to the gambling industry to help it reach that goal.
The primary goal of the contract is to boost the lottery's net income, which dropped from $218 million in fiscal year 2006 to $188 million during fiscal year 2011 — a 14 percent decline.
The operator of Indiana Grand Casino and Indiana Downs horseracing track in Shelbyville has reached a $3.5 million settlement with the property’s former manager, The Cordish Co., that helps pave the way for its reorganization.
A judge on Thursday approved procedures for the potential sale of the property. Bids must be accepted by July 20, and an auction will be conducted on July 31.
Patrons at Hoosier Park's off-track-betting site in downtown Indianapolis can now bet on horse races from the comfort of their seats, and they'll soon be able to place wagers from their smartphones.
Owner of Indiana Grand Casino plans to proceed with recapitalization plan instead.
Industry stalwart prevails in fight against Indiana Horse Racing Commission, which found that he had participated in racing and wagering activities without a license.
Indiana's nearly 20-year-old casino industry is facing declining revenues and growing out-of-state competition, prompting lawmakers to consider what, if any, regulatory changes might be able to stem the tide.
The Indiana State Lottery Commission endorsed a plan Wednesday to seek out private companies to take over some operations of the Hoosier Lottery, a state agency whose income has shrunk in recent years.
Former car dealer Ed Martin Jr., already banned from state horse racing tracks, is accusing the Indiana Horse Racing Commission of violating his civil rights and trespassing on his Florida thoroughbred farm during an investigation it launched against him.
The move is the latest fallout from the racino's legal tangle with Maryland-based Cordish Cos., which managed the venue from its opening in 2008 until 2010.
An off-track, pari-mutuel betting parlor in Evansville owned by Indiana Downs is set to close as the central Indiana-based company that owns it remains in bankruptcy protection.
The Hoosier Lottery hasn't started formally looking at online sales. But spokesman Al Larsen said the lottery will consider it depending on how the program in Illinois works out.
The most serious offense by horsetrack and casino Indiana Live involved sending electronic promotions to dozens of people who had voluntarily excluded themselves from receiving casino solicitations.
Indianapolis Downs LLC, parent company of Indiana Live horserace track and casino in Shelbyville, wants lenders to grant a one-year extension of financing for the Chapter 11 reorganization that otherwise would expire in April.
The southern Indiana casino, which posted double-digit drops in admissions and gross revenue during the shutdown of a bridge across the Ohio River, increased its revenue by 4 percent last month.
