New company to acquire two Indiana casinos
A recently formed company announced it plans to buy both casinos in Gary and move them, one within the city and the other to a different location.
US.- The casino landscape in Gary, Indiana, could soon change as newly formed Spectacle Entertainment plans to acquire both casinos in the city. The company announced it wants to make a cash transaction to get hold of ownership rights for both venues and plans to move one to a different site in Gary and the other to a different location in the state.
Spectacle Entertainment’s main investors 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.
“It would be up to the Legislature. They could ordain where the second licence would go, or it could be up to the gaming commission,” general counsel for Spectacle Entertainment John Keeler said about where the second licence would be moved to.
Government officials seemed to be on board with such a proposal as even Gary Mayor Karen Freeman highlighted Spectacle for being an Indiana-based owner “who can share our vision of Gary beyond gaming.”
Meanwhile, state Rep. Vernon Smith asserted he “doesn’t have a negative response” but claimed to be “surprised” about a potential deal. “To get in position to go inland, we may have to let it go,” he added about potentially losing one of the two venues, despite wanting to keep both of them in Gary.
