Caesars, Centaur Make Peace of mind with Indianapolis Gaming Regulator on $50-Million Casino Pass Fee
The owner of a couple of Indiana racinos is set towards pay a new widely questioned $50-million transfer fee ahead of a earlier announced acquisition of the buildings by Sin city casino icon Caesars Pleasure Corp., nearby news store the Indiana Business Academic journal has learned.
Caesars published last Nov that it would buy Hoosier Park in Anderson in addition to Indiana Awesome in Shelbyville for the whole amount of $1. 7 billion . Both the properties previously owned by way of Indiana-based rider Centaur Games.
Under Indiana state legislation, an initial video gaming license container is compelled to pay some sort of $50-million transfer fee if your license is usually acquired by simply another thing. There are a few exceptions to that laws such as a transfer that involves the actual acquisition of some controlling risk from an primary license support that has got declared individual bankruptcy .
At announcing their whole deal, Caesars and Centaur were advised by the In Gaming Commission that the second would have to pay off the exchange fee until the acquisition’s finish. The two providers argued the fee could not apply as it did not focus on initial permission holders . However , new york state gaming regulator has preserved that the payment should be manufactured free 5 reel slots.
Hoosier Car park was actually owned through Hoosier Store LP, whereas Indianapolis Lows LLC was the initial certificate holder for Indiana Grand. Continue reading “Caesars, Centaur Make Peace of mind with Indianapolis Gaming Regulator on $50-Million Casino Pass Fee”