Indiana Business Journal advises caution on Caesars acquisition
November 28, 2017 3:00 AM
by Robert Mann
The Indiana Business Journal is advising state regulators to take extra caution when it considers Caesars Entertainment’s acquisition of two major horseracing and gaming properties in the state. Caesars announced last week its first post-bankruptcy acquisition is Centaur Holdings LLC, the company that owns Indiana Grand and Hoosier Park in central Indiana.
In a recent editorial, the business publication warns the $1.7 billion deal gives Caesars ownership of four of the state’s five highest-revenue generating casinos and the company would then produce roughly 54 percent of the tax revenue casinos pay to state and local governments. Indiana Business Journal notes that, if approved, just one company would then generate about $324 million in annual taxes to fund government.
Citing the need for competition in the gambling business, the publication is calling on lawmakers and regulators to give the acquisition a thorough review.