Caesars, Centaur Make Peace of mind with In Gaming Regulator on $50-Million Casino Move Fee

Caesars, Centaur Make Peace of mind with In Gaming Regulator on $50-Million Casino Move Fee

The owner of a couple Indiana racinos is set towards pay any widely questioned $50-million send fee prior to a previously announced purchase of the real estate by Sin city casino enormous Caesars Celebration Corp., hometown news outlet the Indiana Business Record has self taught themselves.

Caesars declared last Don’t forget national that it would certainly buy Hoosier Park throughout Anderson and Indiana Fantastic in Shelbyville for the entire grand mondial casino francais amount of $1. 7 billion dollars . The 2 main properties are owned just by Indiana-based user Centaur Gaming.

Under Indy state law, an initial game playing license brochure holder is compelled to pay some $50-million shift fee if your license is actually acquired through another being. There are a few exclusions to that legal requirements such as a convert that involves the main acquisition of some controlling pole from an basic license brochure holder that offers declared personal bankruptcy .

About announcing all their deal, Caesars and Centaur were informed by the Indiana Gaming Compensation that the other would have to pay for the transfer fee prior to acquisition’s the end. The two firms argued the fee to be able to apply because it did not include initial permission holders . However , hawaii gaming regulator has retained that the payment should be created.

Hoosier Park your car was actually owned through Hoosier Playground LP, whereas Indianapolis Downs LLC was the initial permission holder meant for Indiana Large. Continue reading “Caesars, Centaur Make Peace of mind with In Gaming Regulator on $50-Million Casino Move Fee”