Caesar's Entertainment buying more properties in Indiana

As talked about on the show, Caesar's Entertainment sold all, or nearly all of their physical properties so they could start buying more. Recently some details have came out about a couple of locations they are looking to buy.

They are looking to purchase 2 Indiana Racinos for approx $1 Billion.

Hoosier Park - Anderson, Indiana (Approx 1 hour North of Indianapolis)

Indiana Grand - Shelbyville, Indiana (Approx 1 hour East of Indianapolis)

Both are currently owned by a company named Centaur Holdings LLC

-Indiana has a law that a single company can own no more than 2 Casinos in the state. Caesars Entertainment already has 2 properties Horseshoe Hammond, IN (On Lake Michigan) -- Near Chicago & Horseshoe Southern indiana (On the Ohio River) -- Near Louisville KY. Racinos are apparently different as with them having a horse track attached it allows them to get around the 2 casino per company rule.

Hoosier Park has been a major fail since opening in mid-2008. In 2010 Centaur Holdings LLC filed bankruptcy. When they emerged from bankruptcy they ended up purchasing Indiana Grand in 2012.

Both properties have no live cards and no live dealers. All of their tables are electronic tables, and they even give the option to tip!! LOL

Hoosier Park done away with their "poker room" which was a 4 table Electronic PokerPro tables. This closed I believe in 2011 or 2012.

Indiana Grand still has a poker room with I believe 12 of the Electronic PokerPro tables. In 2014 Indiana passed a law that would treat those electronic poker tables as "slot machines" and if you win a pot of $1,200 or more they will issue you a tax form. When doing this they make you cash out of the table....go to the cage, they immediately take out state taxes...and when you go back to the table if you want to keep playing, you have to buy in for what you cashed out for.....except they took part of it in taxes already so you either have to wait 2 hours...or pull more money out of your pocket to cover what they took in state taxes.



I would think if Caesars were going to buy more properties, they could do WAY better than this! However living in Indiana I am kind of excited about it as much as Caesars is a fail company itself, it can't be any worse than the company that runs these casinos....eh*hem...racinos now.

https://www.indystar.com/story/news/...ion/869505001/