Caesars Ent. receives approval to acquire Centaur Gaming
July 02, 2018 10:57 AM
by Robert Mann
Caesars Entertainment received regulatory approval in Indiana late last week for various gambling acquisitions after agreeing to pay a statutory $50 million license transfer fee to the state and an additional $1 million fine for expressing a desire to avoid making the payment.
An agreement between Las Vegas-based Caesars and the Indiana Gaming Commission, says the company will pay the fine to settle allegations that it violated public trust and confidence in the integrity of Indiana’s casino industry.
Caesars’ $1.7 billion acquisition of Centaur Gaming, which owns Indiana's two racetrack casinos, can now close after the revelation that an agreement was signed in late March by Caesars Entertainment President and CEO Mark Fissora and Indiana Gaming Commission Executive Director Sara Gonso Tait.
Sue Carletta, a vice president for Caesars, told gaming commissioners on Thursday that the company accepts “full responsibility for the matters that led to the settlement agreement.”
The Centaur acquisition makes Caesars the largest casino owner in Indiana, giving the company control over four of the state's 13 casinos. In addition to the Horseshoe Casino in the southern Indiana city of Elizabeth, Caesars also owns a Horseshoe casino in Hammond.
Caesars will now also operate off-track betting parlors in Indianapolis, New Haven and Clarksville.
The $50 million from the license transfer fee will go into the state's general fund.