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Caesars, Centaur Make Peace with Indianapolis Gaming Regulator on $50-Million Casino Transfer Fee

Caesars, Centaur Make Peace with Indianapolis Gaming Regulator on $50-Million Casino Transfer Fee

The owner of two Indiana racinos is set for you to pay some sort of widely debated $50-million exchange fee just before a previously mentioned announced purchase of the properties by Las Vegas casino big Caesars Entertainment Corp., localized news store the Indianapolis Business Record has self taught themselves.

Caesars declared last Don’t forget national that it would certainly buy Hoosier Park around Anderson together with Indiana Great in Shelbyville for the entire amount of $1. 7 billion dollars . Both the properties are presently owned by simply Indiana-based operator Centaur Game.

Under Indy state legal requirements, an initial playing games license brochure holder is responsible to pay some sort of $50-million send fee as soon as the license will be acquired by means of another creature. There are a few exclusions to that rules such as a send that involves the main acquisition of some controlling pole from an very first license support that includes declared consumer bankruptcy .

After announcing their own deal, Caesars and Centaur were informed by the In Gaming Commission that the other would have to pay the transfer fee before the acquisition’s end. The two agencies argued the fact that fee didn’t apply simply because it did not require initial licenses holders . However , the state gaming regulator has maintained that the rate should be developed.

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