Caesars Entertainment set to buy Hoosier Park
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According to reports, Caesars Entertainment Corp. is nearing completion of the purchase of Hoosier Park and Indiana Grand from Centaur Gaming. Bloomberg News reports the purchase price is likely more than $1 billion and the sale could be announced as early as this week.
The sale would still need approval from the Indiana Gaming Commission. Caesars already owns Horseshoe Southern Indiana Hotel near Louisville and Horseshoe Hammond Casino on Lake Michigan in northwest Indiana, and one company is prohibited from owning more than two gambling licenses in the state. Bloomberg quoted one gaming industry insider in saying that creative ownership structures can be created to circumvent that law.
Both Hoosier Park and Indiana Grand have slot machines. With almost $271 million in gambling revenue after payouts, Indiana Grand ranks second in the state behind only Horseshoe Hammond. Hoosier Park ranks fifth with $209 million.
To read an entire story published by the Indianapolis Business Journal, please click here.