Caesars, Centaur Make Contentment with In Gaming Regulator on $50-Million Casino Transport Fee
The owner of not one but two Indiana racinos is set to pay the widely disputed $50-million send fee just before a preceding announced acquisition of the components by Nevada casino gigantic Caesars Celebration Corp., nearby news avenue the Indiana Business Newspaper has learnt.
Caesars announced last Late that it might buy Hoosier Park on Anderson as well as Indiana Lavish in Shelbyville for the full amount of $1. 7 tera- . The two main properties are presently owned just by Indiana-based driver Centaur Playing games.
Under Indy state law, an initial video games license loop is compelled to pay a $50-million exchange fee if your license is acquired by means of another organization. There are a few exclusions to that legislation such as a move that involves typically the acquisition of some sort of controlling risk from an primary license case that has declared individual bankruptcy .
Upon announcing all their deal, Caesars and Centaur were knowledgeable by the Indy Gaming Compensation that the second would have to give the shift fee until the acquisition’s finish. The two agencies argued that the fee could not apply since it did not entail initial licenses holders . However , nys gaming regulator has managed that the monthly payment should be made.
Hoosier Keep was originally owned by just Hoosier Store LP, although Indianapolis Downs LLC was the initial security license holder to get Indiana Lavish. Read more