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Caesars, Centaur Make Serenity with Indy Gaming Regulator on $50-Million Casino Transport Fee

Wednesday, September 25th, 2019

Caesars, Centaur Make Serenity with Indy Gaming Regulator on $50-Million Casino Transport Fee

The owner of a pair of Indiana racinos is set that will pay any widely debated $50-million exchange fee before a recently announced acquisition of the houses by Vegas casino enormous Caesars Pleasure Corp., regional news wall socket the Indianapolis Business Paper has mastered.

Caesars declared last Nov. that it will buy Hoosier Park for Anderson in addition to Indiana Huge in Shelbyville for the full amount of $1. 7 million . The two main properties previously owned simply by Indiana-based buyer Centaur Game playing.

Under Indiana state rules, an initial games license case is compelled to pay the $50-million shift fee when the license can be acquired just by another company. There are a few exclusions to that rules such as a transport that involves typically the acquisition of your controlling position from an primary license case that possesses declared a chapter 7 .

About announcing their valuable deal, Caesars and Centaur were up to date by the Indianapolis Gaming Commission payment that the last option would have to pay for the exchange fee prior to a acquisition’s achievement. The two providers argued that this fee could not apply the way it did not focus on initial licenses holders . However , new york state gaming regulator has retained that the monthly payment should be made.

Hoosier Keep was at first owned by way of Hoosier Playground LP, when Indianapolis Lows LLC was the initial license holder just for Indiana Fantastic. (more…)