November 20, 2020 Casino, Legal, Land-Based

Caesars may get extra time to sell Indiana casino

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Regulator had ordered operator to divest three of its five properties in the Hoosier State by 31 December.

The Indiana Gaming Commission has signaled it may give Caesars Entertainment additional time to complete the divestiture of one of its properties in the Hoosier State.

When Eldorado Resorts acquired what had been known as Caesars Entertainment, the result was the new entity owning five casinos in Indiana. The gambling regulator subsequently ruled the operator must sell three of those properties to reduce its concentration.

In October, Caesars sold the Tropicana Casino in Evansville and is reportedly working on a deal to divest Caesars' Southern Indiana casino in Elizabeth by the end of this calendar year.

Next on the list was the Horseshoe Casino in Hammond. According to a story in the Northwest Indiana Times, Sara Tait, executive director of the IGC, said Caesars might be given at least an additional 12 months to complete the sale.

Tait cited COVID-19 closures, and potential pending expansion by other gaming operators in parts of the state, as reasons why Caesars should be given more time to comply with the July divestment order.

She said granting additional time would be in the best interest of the state. The Commission’s ruling is expected early next week.

Caesars owns more than 55 casino properties worldwide: eight on the Las Vegas Strip, two in Illinois, and gaming facilities in 13 other states, including two Indianapolis-area horse track casinos, Harrah's Hoosier Park and Indiana Grand.

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