Caesars, Centaur Make Calmness with Indy Gaming Regulator on $50-Million Casino Transfer Fee
The owner of two Indiana racinos is set to be able to pay some widely debated $50-million exchange fee sooner than a in the past announced purchase of the homes by Vegas casino massive Caesars Entertainment Corp., area news shop the Indianapolis Business Record has discovered.
Caesars launched last Nov that it will buy Hoosier Park in Anderson as well as Indiana Great in Shelbyville for the whole amount of $1. 7 tera- . Each properties previously owned by just Indiana-based user Centaur Video games.
Under In state rules, an initial playing games license case is required to pay any $50-million convert fee should the license can be acquired by way of another entity. There are a few exceptions to that legal requirements such as a send that involves the acquisition of some controlling pole from an very first license owner that has got declared a chapter 13 .
When announcing most of their deal, Caesars and Centaur were enlightened by the Indiana Gaming Percentage that the last option would have to pay for the transfer fee prior to acquisition’s conclusion. The two corporations argued how the fee could not apply the way it did not involve initial security license holders . However , this state gaming regulator has preserved that the transaction should be designed.
Hoosier Keep was in the beginning owned just by Hoosier Park LP, even though Indianapolis Lows LLC is the initial certificate holder pertaining to Indiana Grand. Read more