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Centaur winning bidder for Indiana Downs

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September 18, 2012 | Print View

Centaur Holdings LLC, the parent of Hoosier Park Racing & Casino, has been chosen the winning bidder for Indiana Downs and the Indiana Grand Casino. According to a story published on the Indianapolis Business Journal’s website, Centaur placed the winning bid Friday, September 14 in New York. The story states that while Centaur officials would not disclose the bid, bankruptcy filings stipulated that the minimum qualifying bid was $500 million.

"Obviously, we hope we can grow these properties, both of them,” Centaur General Counsel John Keeler told the IBJ. "It’s our intention to maintain the same, what we believe to be, quality of racing, gaming and entertainment in Anderson and bring that to Shelbyville as well.”

Indianapolis Downs LLC, which owns Indiana Downs and the Indiana Grand Casino, has been in bankruptcy since April 2011. While Centaur’s bid was accepted, it will now go to a Delaware bankruptcy court judge for approval. There are also several regulatory hurdles before the sale can be finalized. Keeler stated that during Friday's proceedings Centaur was the only qualified bidder. To read the full IBJ article, click here.


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