Caesars Entertainment to expand in Indiana
Casino and horse racing company Centaur Holdings LLC is set to be acquired by Caesars Entertainment, which plans to expand in Indiana.
US.- Caesars Entertainment Corp announced last Thursday that it would buy Centaur Holdings LLC, a casino and horse racing company based in Indiana for US$1.7 billion. Caesars has just came out of a three-year bankryptcy and plans to continue its financial recovery by expanding in the mid-western state.
According to Caesars, Centaur registers over 6.5 million guests yearly across its gaming venues and serves more than 1.1 million members as part of its loyalty program. That’s why the casino giant is ready to offer US$1.63 billion at closing and US$75 million in deferred consideration.
The deal will see Caesars acquiring the Hoosier Park Racing & Casino and Indiana Grand Racing & Casino properties, which include more tan 2k slot machines and table games, in addition to horse racing tracks and dining outlets.
There had been reports earlier this year saying Centaur was trying to sale its operation and Caesars Entertainment might just be the buyer they were looking for. The deal will see the casino giant expanding within the US amid a decline in the casino segment revenue.
