Lawmakers dismiss impact of Caesars’ racetrack plan
Indiana officials say that Caesars’ acquisition of two racetrack casinos won’t have an impact on the state’s industry.
US.- Lawmakers from Indiana doubt that Caesars Entertainment’s pending acquisition of two racetrack casinos in the state will have a significant impact on the industry. Caesars announced earlier this month that it would buy Centaur Holdings LLC, a casino and horse racing company based in Indiana for US$1.7 billion.
House Public Policy Committee Chair Ben Smaltz, R-Auburn, said that he’s not sure how the deal will change Statehouse debates: “Predicting some issues is virtually impossible so if it does come, we’ll handle it.” The racetrack casinos obtained the permission to operate live table game dealers in 2015, and the bill establishes that they can start operating in 2021. Senate Public Policy Committee Chair Ron Alting, R-Lafayette, said that date would remain the same as it “shouldn’t change because a 100-pound gorilla is now the owner versus a couple local boys.”
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. The deal is expected to be closed early next year.
