Indiana’s horse racing industry has more than doubled in economic value in the past decade, according to a study led by Purdue University.
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To say Indiana’s horse racing industry had concerns about Eldorado Resorts Inc. taking over the state’s two horse-racing casinos would be putting it mildly.
Read MoreThe Indiana Gaming Commission alleges longtime casino executive Rod Ratcliff funneled money from his former company into a personal gambling account and repeatedly concealed financial information from the commission that should have been disclosed.
The Indiana Horse Racing Commission signed off on the deal this week, paving the way for what will be the world’s largest casino operation. The merger, which awaits approval from New Jersey regulators, affects five Indiana casinos.
The Indiana Gaming Commission on Friday approved Eldorado Resorts Inc.’s acquisition of Caesars Entertainment Corp.’s four Indiana casino properties, with major conditions.
Churchill Downs will institute a number of operating procedures for the Kentucky Derby, which has been moved to Sept. 5 because of the pandemic.
Gregory Skelton, owner of Skelton Equine Sports Medicine LLC, was charged in a conspiracy that involved creating and giving performance-enhancing drugs to racehorses, leading to the death of at least one high-profile horse.
Holcomb said he made the decision—which comes on the heels of multiple conflict of interest questions about the gambling bill—to “spur positive economic growth for our state and for an industry that employs over 11,000 Hoosiers.”
Some observers say the upcoming changes are the most significant in the industry since the Legislature authorized riverboat casinos in 1993.
The House Public Policy Committee heard roughly five hours of testimony on Senate Bill 552—legislation that touches nearly every aspect of gambling in Indiana—during a hearing on Wednesday.
Spectacle Entertainment—a company founded by some of the same investors that operated Centaur before it was purchased by Caesars Entertainment—is in the process of buying Gary-based Majestic Star Casino I and Majestic Star Casino. It has said it wants to move one of the casinos to the Interstate 80/94 corridor and the other to Terre Haute.
Caesars owns four of Indiana’s highest-revenue casinos and any sale would need approval from the Indiana Gaming Commission and Indiana Horse Racing Commission.
The company’s $1.7 billion purchase of Indianapolis-based Centaur Gaming and its Hoosier Park and Indiana Grand horse racing casinos was earlier approved by the Indiana Gaming Commission.
The Las Vegas-based casino company will soon own Indiana Grand in Shelbyville and Hoosier Park in Anderson, the state’s only two casinos with horse-racing tracks.
The deals approved Thursday change ownership at Hoosier Park in Anderson, Indiana Grand in Shelbyville, Belterra Casino Resort in Switzerland County and Ameristar Casino in East Chicago.
The owner of two horse track casinos near Indianapolis is preparing to pay a $50 million state fee as part of its sale to casino giant Caesars Entertainment Corp.
The U.S. Supreme Court ruled Monday that states can legalize sports betting. Indiana lawmakers will likely study the issue before their 2019 session.
If the Indiana Gaming Commission doesn’t agree with Caesars, a proposed $90 million project in Indiana by the Las Vegas-based company could be dropped.
Centaur, which owns and operates Hoosier Park Racing & Casino in Anderson and Indiana Grand Racing & Casino in Shelbyville, said its 2,000 or so employees would receive the checks next week.
If Caesars Entertainment is successful in buying Hoosier Park and Indiana Grand, it would have an interest in four of the state’s five largest casinos. The acquisition reportedly is in the works.
An man who ran an Indianapolis-area horse-racing business will have his tax deficiencies for the 2005 and 2006 tax years voided after an appeals court ripped apart an opinion by the U.S. Tax Court.
The state-of-the-art Centaur Regional Equine Diagnostic and Surgical Center will provide health services to horses and serve as a working laboratory to support the College of Veterinary Medicine.
