Caesars Entertainment to retain ownership of three Indiana casinos

Caesars Entertainment to retain ownership of three Indiana casinos

Las Vegas, Nevada-headquartered casino operator Caesars Entertainment has confirmed that it will retain ownership of three gaming properties in the state of Indiana as well as a connected trio of off-track betting facilities.

In a recent official press release, Caesars Entertainment explained that it decided to continue to retain ownership of the gaming properties after the Indiana Gaming Commission (IGC) amended the previous edict in which the operator was ordered to offload at least three of its properties in the state as part of the formal regulatory approval of its 2020 merger with rival Eldorado Resorts Inc. However, the previous edict was recently amended following a change in circumstances.

Tom Reeg, the CEO for Caesars Entertainment, said that the change allowed his company to continue to own and operate Indiana’s Horseshoe Hammond, Indiana Grand Racing & Casino and Hoosier Park Racing & Casino venues in addition to associated off-track betting parlors in Clarksville, Indianapolis, and New Haven. The top executive also expressed confidence that the casino operator would be able to continue to benefit team members, patrons as well as the Hammond community as a whole, while contributing to the state economy through generation of significant tax revenue for the state exchequer.

In a recently released statement, Reeg said, “We are confident that our continued operating of Horseshoe Hammond is in the best interest of our team members, guests, the Hammond community and the state of Indiana … maintaining our strong customer and employee relationships.”

At the time of the Caesars-Eldorado merger, the Indiana gaming regulator had inserted the disposal clause to force the casino giant to offload at least three properties due to concerns that it could otherwise control a mammoth 60 per cent of the state’s gaming business. However, those concerns have since become eased as the Las Vegas-headquartered company has offloaded its Caesars Southern Indiana enterprise and Tropicana Evansville business to the Eastern Band of Cherokee Indians Tribe and to Bally’s Corporation, respectively.

The change reportedly came after Thomas McDermott, the mayor for the city of Hammond, wrote a letter to the IGC in which he asserted that allowing Caesars Entertainment to retain ownership and operations of the Horseshoe Hammond would be in the best interests of the local community as well as the wider region.