Caesars to retain control of remaining Indiana properties

The Indiana Gaming Commission has amended its order requiring Caesars Entertainment to sell a third casino asset in the state, meaning Caesars will continue to own and operate its remaining venues in the state.

The operator will continue to run the Horseshoe Hammond, in addition to the Indiana Grand, Harrah’s Hoosier Park and its three off-track betting locations in the state.

Indiana’s gaming regulator ordered Caesars and Eldorado Resorts to sell three of their casinos in the state in July 2020, upon approving the operators’ mega-merger.

The Commission was said to have reservations about the deal due to the number of properties owned and operated by both companies in the state.

“The impact of this unprecedented transaction is greater upon Indiana than any other state,” the Commission said, noting that the combined entity would control up to 60% of gaming revenue in the state.

However, following Caesars’ agreement to sell the operations of its Caesars Southern Indiana casino to the Eastern Band of Cherokee Indians, and the sale of Tropicana Evansville to Bally’s Corporation, Indiana’s Gaming Commission has now amended its original order and allowed Caesars to retain control of its other existing properties in the state.

“We are confident that our continued operating of Horseshoe Hammond is in the best interest of our team members, guests, the Hammond community, and the State of Indiana,” said Tom Reeg, chief executive of Caesars Entertainment.

“We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best positioned for a strong and exciting future.”

Caesars recently closed on the sale of Tropicana Evansville and expects to close on the sale of Caesars Southern Indiana in the third quarter of 2021.

Original Article