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Caesars, Centaur Make Peace of mind with Indianapolis Gaming Regulator on $50-Million Casino Shift Fee

Caesars, Centaur Make Peace of mind with Indianapolis Gaming Regulator on $50-Million Casino Shift Fee

The owner of a pair of Indiana racinos is set that will pay your widely problematic $50-million move fee to increase a already announced acquisition of the houses by Sin city casino big Caesars Leisure Corp., nearby news shop the Indianapolis Business Newspaper has already know.

Caesars released last November that it would buy Hoosier Park in Anderson and also Indiana Great in Shelbyville for the total amount of $1. 7 million . The two properties previously owned through Indiana-based driver Centaur Gaming.

Under Indy state laws, an initial gambling license loop is obliged to pay a new $50-million pass fee should the license is certainly acquired by way of another company. There are a few conditions to that legislations such as a exchange that involves typically the acquisition of some sort of controlling risk from an preliminary license dish that has declared a chapter 13 .

At announcing their very own deal, Caesars and Centaur were advised by the Indianapolis Gaming Commission payment that the last option would have to fork out the convert fee ahead of the acquisition’s finalization. The two corporations argued which the fee could not apply as it did not include initial certificate holders . However , new york state gaming regulator has kept that the transactions should be produced.

Hoosier Store was actually owned by just Hoosier Store LP, even while Indianapolis Downs LLC was the initial certificate holder for Indiana Lavish. More Details