Caesars Leisure, Inc. will keep its possession of Horseshoe Hammond Casino immediately after the Indiana Gaming Fee on Thursday amended a beforehand issued divestiture get necessitating the firm to promote a 3rd casino asset in the state.
As a outcome, Caesars will go on to own and operate Horseshoe Hammond, Indiana Grand, and Harrah’s Hoosier Park, and 3 off-track betting facilities across Indiana.
Previously this week, the Gaming Fee listed the “Horseshoe Hammond Divestiture Order” as an item on the agenda for its Thursday conference. The regulator declined to supply more facts on the subject when requested by community information stores.
It was before this 7 days yet again when stories emerged that Caesars experienced been looking to persuade gaming commissioners to let it keep Horseshoe Hammond as it believed that it was in the casino’s greatest desire to continue to function beneath the company’s stewardship.
In July 2020, the Indiana Gaming Commission directed the gaming and hospitality powerhouse to offer 3 of its five casinos in the point out by the close of that 12 months to stop an “undue economic concentration” of the nearby gaming sector next Caesars’ $17.3 billion mixture with Eldorado Resorts.
The expanded team chose to offer the Hammond casino, along with its Caesars Southern Indiana and Tropicana Evansville qualities.
Owing to the Covid-19 pandemic and the worries it lifted to the market, the regulatory company in November gave Caesars an more calendar year to find a consumer for Horseshoe Hammond.
A Sturdy and Exciting Foreseeable future
Commenting on Caesars currently being permitted to maintain its Hammond assets, the company’s CEO, Tom Reeg, explained in a assertion that they are self-confident their “continued working of Horseshoe Hammond is in the best curiosity of our Staff Customers, attendees, the Hammond neighborhood, and the Point out of Indiana.”
Mr. Reeg went on to say that they believe sustaining their potent purchaser and employee partnership makes the residence “best positioned for a potent and thrilling future.”
Public history requests a short while ago submitted by The Situations of Northwest Indiana showed modern letters from Mr. Reeg and Hammond Mayor Thomas McDermott Jr. in which they urged the Gaming Fee to rethink their buy for the business to provide the Hammond home.
Caesars’ major official wrote in his letter that the Hoosier Point out would reward from leaving the operator in charge of the on line casino amid an ongoing shakeup in the regional industry prompted by final month’s start of Tough Rock On line casino Northern Indiana in Gary, alongside with the pending development of casinos in Chicago and suburban Prepare dinner County in Illinois.
Mayor McDermott wrote that with levels of competition looming from neighboring Illinois, “now it is even much more significant to shore up the competitive advantage we have at our gaming place in Hammond.”
Supply: Horseshoe Hammond Stays Part Of Caesars Entertainment, PR Newswire, June 24, 2021