Caesars, Centaur Make Calm with Indiana Gaming Regulator on $50-Million Casino Exchange Fee
The owner of a couple of Indiana racinos is set to help pay a good widely problematic $50-million transport fee ahead of a formerly announced purchase of the properties by Vegas casino gigantic Caesars Entertainment Corp., regional news electric outlet the Indiana Business Log has discovered.
Caesars released last December that it will buy Hoosier Park throughout Anderson as well as Indiana Fantastic in Shelbyville for the total amount of $1. 7 million . Each properties are presently owned by way of Indiana-based operator Centaur Gambling.
Under Indiana state regulations, an initial game playing license owner is required to pay the $50-million move fee if the license is usually acquired by means of another enterprise. There are a few exclusions to that regulation such as a transfer that involves the acquisition of a new controlling stake from an preliminary license case that features declared consumer bankruptcy .
About announcing their valuable deal, Caesars and Centaur were advised by the Indiana Gaming Fee that the latter would have to shell out the move fee ahead of the acquisition’s achievement. The two businesses argued the fact that fee in order to apply as it did not focus on initial licenses holders . However , the state of hawaii gaming regulator has serviced that the transactions should be created.
Hoosier Store was traditionally owned by Hoosier Store LP, although Indianapolis Lows LLC was the initial licence holder regarding Indiana Fantastic. Continue reading “Caesars, Centaur Make Calm with Indiana Gaming Regulator on $50-Million Casino Exchange Fee”