Caesars, Centaur Make Contentment with Indy Gaming Regulator on $50-Million Casino Transfer Fee
The owner of 2 Indiana racinos is set to help pay any widely debated $50-million pass fee prior to a preceding announced purchase of the real estate by Nevada casino gigantic Caesars Fun Corp., regional news wall plug the Indiana Business Publication has discovered.
Caesars announced last December that it could buy Hoosier Park throughout Anderson along with Indiana Lavish in Shelbyville for the absolute amount of $1. 7 billion . The two properties are owned by Indiana-based operator Centaur Game.
Under In state legislations, an initial gaming license brochure holder is responsible to pay any $50-million exchange fee when the license is certainly acquired just by another enterprise. There are a few exclusions to that laws such as a shift that involves the very acquisition of your controlling stake from an very first license holder that offers declared personal .
On announcing most of their deal, Caesars and Centaur were knowledgeable by the Indiana Gaming Commission that the last option would have to pay the transfer fee prior to the acquisition’s conclusion. The two businesses argued which the fee would not apply mainly because it did not focus on initial drivers license holders . However , the state gaming regulator has taken care of that the transaction should be constructed.
Hoosier Keep was in the beginning owned through Hoosier Park your car LP, even though Indianapolis Downs LLC was the initial certificate holder just for Indiana Grand. Continue reading