{"id":82105,"date":"2018-06-30T08:00:43","date_gmt":"2018-06-30T15:00:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=82105"},"modified":"2018-06-29T15:56:01","modified_gmt":"2018-06-29T22:56:01","slug":"caesars-gets-indiana-racetrack-approval-with-million-dollar-fine","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/","title":{"rendered":"Caesars Gets Indiana Racetrack Approval with Million Dollar ‘Don’t Pull That S**t with Us’ Fine from State Gaming Commish"},"content":{"rendered":"

Caesars Entertainment\u2019s proposed $1.7 billion Hoosier Park and Indiana Grand racino\u00a0acquisition from Centaur Gaming is nearing the finish line. The casino giant received approval from state gaming regulators Thursday, but it\u2019s going to cost a million dollars more than originally planned to bring the deal home.<\/p>\n

\"Indiana
Indiana’s Hoosier Park could soon get a Harrahs rebrand, if Caesars makes tracks to close its two-racino deal with Centaur Gaming. (Image: Hoosier Park)<\/figcaption><\/figure>\n

The Indiana Gaming Commission (IGC) has signed off the deal, but it also imposed a million-dollar fine on Caesars for attempting to \u201cundermine the public\u2019s confidence and trust in the integrity of the gaming industry in Indiana\u201d when it threatened to halt its Horseshoe riverboat expansion to a land-based venue.<\/strong><\/p>\n

‘You Waited Too Long’ Fee<\/strong><\/h2>\n

In March, Caesars threatened to pull its proposed $85 million investment<\/a> to move the Horseshoe Southern Indiana to dry land, due to a snafu concerning a hefty transfer payout for the two racetracks.<\/p>\n

Under Indiana gaming law<\/a>, a $50 million fee is required to complete the transfer of a casino property between two parties, although an exception is made if the seller has filed for bankruptcy.<\/p>\n

\n

Centaur filed for Chapter 11 reorganization in 2011, but regulators demanded the fee nonetheless, citing too much time having elapsed since that move hit the books. In retaliation, Caesars told the IGC that it would have to \u201cseriously reconsider\u201d the expansion of the Horseshoe.<\/span><\/p>\n<\/div>\n

It was all bluster, though. In mid-June, the company went ahead and broke ground on the move to land expansion, and Caesars and Centaur decided to simply swallow the IGC fee, which will now have that million-dollar fine tacked on. The payout paves the way for the acquisition of the two racinos at last.<\/p>\n

All’s Well That Ends Well<\/h2>\n

Sue Carletta, chief regulatory compliance officer for Caesars, said the company accepted the fine and was now \u201ccommitted to ensuring that we move forward in a positive manner.\u201d<\/p>\n

The purchase of the two racetracks would mean Caesars controls four of the five biggest revenue-generating casinos in Indiana. While state law forbids one operator from owning more than two, racinos are excepted, having been legalized under a different statute.<\/p>\n","protected":false},"excerpt":{"rendered":"

Caesars Entertainment\u2019s proposed $1.7 billion Hoosier Park and Indiana Grand racino\u00a0acquisition from Centaur Gaming is nearing the finish line. The casino giant received approval from state gaming regulators Thursday, but it\u2019s going to cost a million dollars more than originally planned to bring the deal home. The Indiana Gaming Commission (IGC) has signed off the […]<\/p>\n","protected":false},"author":36,"featured_media":82109,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,14577,18],"tags":[],"acf":[],"yoast_head":"\nCaesars Gets Indiana Racetrack Approval with Million Dollar Fine<\/title>\n<meta name=\"description\" content=\"Caesars acquisition of the Hoosier Park and Indiana Grand, two Indiana racetracks, from Centaur Gaming has been approved by the Indiana Horseracing Commission.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Gets Indiana Racetrack Approval with Million Dollar Fine\" \/>\n<meta property=\"og:description\" content=\"Caesars acquisition of the Hoosier Park and Indiana Grand, two Indiana racetracks, from Centaur Gaming has been approved by the Indiana Horseracing Commission.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-30T15:00:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-29T22:56:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/06\/hoosier.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"731\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/\",\"name\":\"Caesars Gets Indiana Racetrack Approval with Million Dollar Fine\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/06\/hoosier.jpg\",\"datePublished\":\"2018-06-30T15:00:43+00:00\",\"dateModified\":\"2018-06-29T22:56:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Caesars acquisition of the Hoosier Park and Indiana Grand, two Indiana racetracks, from Centaur Gaming has been approved by the Indiana Horseracing Commission.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-gets-indiana-racetrack-approval-with-million-dollar-fine\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/06\/hoosier.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/06\/hoosier.jpg\",\"width\":1024,\"height\":731,\"caption\":\"Hoosier Park could soon be rebranded Harrahs Hoosier Park if the 1.7 billion acquisition of the racetrack and casino in Anderson Indiana, and the Indiana Grand, goes through as expected. 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