updated: 1/31/2013 7:24:14 AM
The parent company of Hoosier Park in Anderson says a deadline for review of its pending acquisition of Indiana Grand Casino and Downs in Shelbyville has passed without the Federal Trade Commission taking action. Indianapolis-based Centaur Holdings LLC says it can now seek financing and hope to finalize the purchase in February.
January 30, 2013
Indianapolis, Ind. -- Indianapolis-based Centaur Holdings, LLC today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 review of the company’s pending acquisition of Indiana Grand Casino and Downs in Shelbyville, Ind. expired at 11:59 p.m. on Jan. 29 without the Federal Trade Commission taking any action. This clears the path for Centaur to seek financing, with a projected mid-February finalization of the purchase.
Centaur announced on Nov. 1, 2012 that they had entered into a definitive agreement to acquire the Shelbyville racetrack and casino for approximately $500 million. Throughout the months of December and January, both the Indiana Horse Racing and Gaming Commissions gave their unanimous regulatory endorsements of the purchase agreement.
“With all major regulatory requirements satisfied, Centaur is prepared to secure financing and move to complete the purchase of Indiana Grand Casino and Downs in the coming weeks,” said Rod Ratcliff, Centaur Holdings, LLC chairman and chief executive officer. “Indiana Grand Casino and Downs is an outstanding entertainment destination, with a superior group of employees, and a supportive community with whom we look forward to working alongside.”
The addition of Indiana Grand Casino and Downs to Centaur’s Hoosier Park Racing & Casino in Anderson, Ind. will increase the company’s total workforce to more than 2,000 Indiana residents. “Indiana Grand Casino and Downs offers premier racing and gaming to guests in Indiana and throughout the Midwest region,” said Jim Brown, Centaur and Hoosier Park’s president and chief operating officer. “We are ready to build upon successes of the past, while continually finding new ways to reinvest in the property by introducing new and exciting products and amenities.”
Indianapolis-based Centaur Holdings, LLC, founded in 1993, focuses on bringing the entertainment and economic benefits of casino gaming and horse racing to key communities across Indiana. Centaur currently owns and operates Hoosier Park Racing & Casino in Anderson, Ind., Hoosier Park’s Winner’s Circle Pub, Grille & OTB in Indianapolis, Ind. and off-track betting facilities in Fort Wayne and Merrillville, Ind.
Source: Centaur Holdings LLC