Indiana fines Caesars Entertainment
Caesars Entertainment Corp. will have to pay a US$1 million fine in Indiana State.
US.- As Caesars Entertainment Corp. assumed the compromise to invest US$90 million in a project at Horseshoe Southern Indiana Hotel and Casino and then threatened to drop out, the Indiana Gaming Commission voted yesterday afternoon to set a US$1 million fine for the Las Vegas gaming company.
According to Caesars Entertainment, the company would drop the project “if the $50 million transfer fee related to Caesars’ purchase of Indiana’s two horse racing casinos wasn’t waived.” The company aims to negotiate with the State’s Gaming Commission to find a way to avoid both the fine and the fee.
“…Caesars is now facing some very difficult decisions with regard to its proposed $90 million investment in southern Indiana,” Timothy Donovan, executive vice president, general counsel and chief regulatory and compliance officer for Caesars, wrote in an email to commission Executive Director Sara Gonso Tait. “We would prefer not pulling it from next week’s agenda, but at this point we may have no choice given the continued uncertainty surrounding the $50 million transfer fee.”
Caesars received authorisation from the IGC back in April to develop its 100,000-square-foot facility in Elizabeth and has just begun working on it. It’s a move that follows the passage of a piece of legislation by the Indiana General Assembly in 2015, which allowed riverboat casinos to be moved onto land.
