Caesars looks to become IN juggernaut

Marco Green
November 17, 2017

Caesars Entertainment, the sprawling casino company with a stake in a number of racetracks in the US, has reached an agreement to buy Centaur Gaming Inc., the owner and operator of the two racetrack-casinos in IN, the companies announced Thursday.

"Centaur Gaming has been committed to bringing the entertainment and economic benefits of gaming and horse racing to key communities throughout IN since 1993", said Centaur Gaming Chairman and CEO Rod Ratcliff. Indiana Grand races Thoroughbreds and Quarter Horses in a season lasting six months with approximately 115 racing dates, while Hoosier races Standardbreds over an eight-month period with approximately 160 racing dates. It is believed that the deal could be confirmed by the end of the week.

Shares of Caesars Entertainment edged slightly higher in extended trade. The company's network already includes Horseshoe Hammond, serving the Chicagoland area and Horseshoe Southern Indiana, serving southern Indiana and the Louisville area.

The deal is subject to regulatory and other customary closing conditions.

The potential acquisition of the two Centaur Gaming properties comes as one of the first manifestations of its renewed growth push.

As mentioned above, the two gambling venues are among the state's largest. Indiana Grand generated revenue of $271 million previous year and Hoosier Park raked in $209 million.

Caesars said the deal would add Indiana properties Hoosier Park and Indiana Grand to its rewards portfolio.

For now, Indiana Grand and Hoosier Park are operated by Centaur Gaming.

Centaur Gaming actually acquired Indiana Grand Racing and Casino in early 2013. The gambling operator spent $500 million on the gambling venue, thus expanding its presence in the in market.

Other reports by Click Lancashire

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