$34m expansion approved for Harrah’s Hoosier Park
Marks Caesars’ second active project in the state of Indiana.
Caesars Entertainment is set to continue with its plans to expand Harrah’s Hoosier Park in central Indiana. The $34m project looks to add space for a greater number of slot machines within the property, as well as a new restaurant.
Approved by the Anderson Zoning board last week, this expansion marks the second project Caesars has recently begun in the Hoosier State, following the $32m gambling floor expansion at Indiana Grand Racing & Casino.
The project involving Harrah’s Hoosier Park is set to add 38,000 square feet, resulting in over 100 new slot machines and a restaurant/bar with a drive-through area for valet parking.
The expansion is expected to break ground in April of 2022, with completion to arrive within the next 12-15 months.
Discussions involving the addition of a new hotel to the project remain ongoing, with Hoosier Park general manager, Trent McIntosh, arguing it would make the casino a better entity for Anderson.
Caesars purchased the two properties for a combined $1.7bn in 2018, at this time the casinos were restricted to electronic table games. However, in January 2020 the state allowed for the inclusion of live table games in the properties’ offerings.
Caesars Entertainment has recently released its financial results for the period ending September 30, 2021, citing net revenues of $2.7bn compared to $1.4bn for the comparable prior-year period.
Tom Reeg, chief executive officer of Caesars Entertainment, Inc., said: “Our third quarter operating results reflect an all-time quarterly EBITDA record in our Las Vegas segment and a new third quarter EBITDA record for our regional segment. We are encouraged by the early results from our rebranded Caesars Sportsbook launch and we are looking forward to launching additional states by year end and into 2022.”
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