Caesars, Centaur Make Calmness with Indiana Gaming Regulator on $50-Million Casino Convert Fee
The owner of only two Indiana racinos is set that will pay some widely disputed $50-million send fee in front of a preceding announced purchase of the homes by Nevada casino giant Caesars Celebration Corp., local news wall plug the Indiana Business Diary has discovered.
Caesars launched last Don’t forget national that it would likely buy Hoosier Park inside Anderson and Indiana Awesome in Shelbyville for the comprehensive amount of $1. 7 billion dollars . Each properties are presently owned just by Indiana-based owner Centaur Video games.
Under Indianapolis state law, an initial video gaming license dish is compelled to pay a good $50-million exchange fee once the license is definitely acquired by another company. There are a few differences to that laws such as a transfer that involves the actual acquisition of some controlling position from an initial license loop that has got declared a chapter 13 .
In announcing their very own deal, Caesars and Centaur were enlightened by the In Gaming Payment that the other would have to pay the transfer fee before the acquisition’s finalization. The two corporations argued that the fee failed to apply as it did not require initial licence holders . However , the state gaming regulator has maintained that the costs should be built.
Hoosier Store was originally owned by way of Hoosier Area LP, whereas Indianapolis Downs LLC was the initial licence holder for Indiana Large. (mehr …)