Casino giant Caesars Entertainment Inc. has agreed to sell its Caesars Southern Indiana casino to…
Caesars Leisure, Inc. will retain its possession of Horseshoe Hammond casino after the Indiana Gaming Fee on Thursday amended a beforehand issued divestiture order requiring the corporate to promote a 3rd casino asset within the state.
Consequently, Caesars will proceed to personal and run Horseshoe Hammond, Indiana Grand, and Harrah’s Hoosier Park, and three off-track betting services throughout Indiana.
Earlier this week, the Gaming Fee listed the “Horseshoe Hammond Divestiture Order” as an merchandise on the agenda for its Thursday assembly. The regulator declined to offer additional particulars on the matter when requested by native information shops.
It was earlier this week once more when studies emerged that Caesars had been seeking to persuade gaming commissioners to let it maintain Horseshoe Hammond because it believed that it was within the casino’s finest curiosity to proceed to function below the corporate’s stewardship.
In July 2020, the Indiana Gaming Fee directed the gaming and hospitality powerhouse to promote three of its 5 casinos within the state by the top of that yr to forestall an “undue financial focus” of the native gaming trade following Caesars’ $17.3 billion mixture with Eldorado Resorts.
The expanded group selected to promote the Hammond casino, together with its Caesars Southern Indiana and Tropicana Evansville properties.
Because of the Covid-19 pandemic and the challenges it raised to the trade, the regulatory company in November gave Caesars a further yr to discover a purchaser for Horseshoe Hammond.
A Sturdy and Thrilling Future
Commenting on Caesars being allowed to maintain its Hammond property, the corporate’s CEO, Tom Reeg, stated in an announcement that they’re assured their “continued working of Horseshoe Hammond is in the most effective curiosity of our Crew Members, visitors, the Hammond neighborhood, and the State of Indiana.”
Mr. Reeg went on to say that they consider sustaining their robust buyer and worker relationship makes the property “finest positioned for a robust and thrilling future.”
Public report requests lately submitted by The Instances of Northwest Indiana confirmed latest letters from Mr. Reeg and Hammond Mayor Thomas McDermott Jr. during which they urged the Gaming Fee to rethink their order for the corporate to promote the Hammond property.
Caesars’ prime official wrote in his letter that the Hoosier State would profit from leaving the operator in control of the casino amid an ongoing shakeup within the regional market brought on by final month’s launch of Laborious Rock casino Northern Indiana in Gary, together with the pending growth of casinos in Chicago and suburban Prepare dinner County in Illinois.
Mayor McDermott wrote that with competitors looming from neighboring Illinois, “now it’s much more necessary to shore up the aggressive benefit now we have at our gaming location in Hammond.”
Supply: Horseshoe Hammond Stays Half Of Caesars Leisure, PR Newswire, June 24, 2021