IHRC awaits for potential racetrack casinos sale
The Indiana Horse Racing Commission has not received an application for the proposed sales of two racetrack casinos in the state.
US.- Centaur Gaming-owned Hoosier Park Racing & Casino and the Indiana Grand casino are set to be sold to Caesars Entertainment in the near future. However, despite receiving the financial agreement between companies, the Indiana Horse Racing Commission (IHRC) has still not received the proper application for the sale.
IHRC executive director Mike Smith said that they’re “still, at this point, waiting on the application of transfer” and confirmed that “once that is received, [the IHRC] will put the wheels in motion.”
The US$1 billion deal was announced on November 16th and requires to be approved by both the IHRC and the Indiana Gaming Commission. Caesars Enterntainment had earlier announced that it planned to close the sale early in 2018 to become the owner of four of the state’s five largest casinos.
Caesars Entertainment already owns the Horseshoe Hammond and the Horseshoe Southern Indiana but is allowed to bypass the state law which prohibits one company from owning more than two casinos in the state since it doesn’t apply to racetrack-based venues.
