Caesars Entertainment to Buy Indiana Casinos in $1.7 Billion Deal

Caesars Entertainment to Buy Indiana Casinos in $1.7 Billion Deal

Caesars Entertainment Corp. plans to buy two Indiana casinos in a $1.7 billion deal, just weeks after it finished up a large bankruptcy proceeding.

Caesars said Thursday it reached an agreement to purchase Centaur Holdings LLC, which owns Hoosier Park Racing and Casino in Anderson, Ind., and Indiana Grand Racing and Casino in Shelbyville, Ind., to help expand its presence in an under-penetrated gaming market with favorable economic fundamentals.

Indianapolis-based Centaur has more than 6.5 million guests each year across its properties and serves more than 1.1 million members as part of its loyalty program, Caesars said.

Caesars said the offer included $1.63 billion at closing and $75 million in deferred consideration.

Following the deal, Caesars would add the Hoosier Park Racing & Casino and Indiana Grand Racing & Casino properties. The properties include more than 2,000 slot machines and table games, as well as dining outlets and horse racing tracks.

Reuters had reported in May, citing sources, that Centaur was exploring a sale.

Casino operators are also looking to increase their scale by consolidating, partly in response to a decline in revenue as gamblers age.

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Started working in the Casino Industry in 1985, just never managed to leave as yet. Visited 99% of all UK Casinos, seen them all,

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