Indiana Commission to assess Gary casinos sale
The IGC will look into the transfer of ownership in two casinos to Spectacle Entertainment in March.
US.- Casino company Spectacle Entertainment is looking to acquire two Gary casinos, but first it will need the Indiana Gaming Commission’s approval. Ahead of a potential sale, commission director Sarah Tait revealed that the authorities will assess the proposed transfer of ownership next March.
“Our review is limited to current law, so while there has been much discussion about moving the licenses outside of the footprint in Gary or moving the license to another location in the state, that’s not relevant to us,” Tait said and added: “What we will be considering is the current state of the law, which is two boats in Gary on the current footprint.”
President and CEO of the 11-member Casino Association of Indiana, Matthew Bell, said: “I’ve long believed that moving positions, moving a license is something that we’ll eventually have to do to keep being competitive with other Midwest states. It’s my belief that if we’re going to be a gaming state, let’s be a gaming state, maximize our revenue, and I personally believe that moving the licenses is a way to do that.”
Spectacle Entertainment’s main invesors are Greg Gibson, a Terre Haute entrepreneur, and Rod Ratcliff, chairman and CEO of Centaur Gaming. They are determined to buy the Majestic Star Casino & Hotel and the Majestic Star II, both owned by Majestic Holdco LLC, which also operates a 300-room hotel, 2k-space parking garage, and several related businesses.
