IGC to Consider Settlement in Gaming License Appeal

(rendering courtesy of Lucy Luck Gaming)

Just two days before the winning proposal for the open gaming license in Vigo County is set to be announced, the Indiana Gaming Commission will consider a settlement offer with the previous license holder. In June, the commission denied a license renewal for Terre Haute-based Lucy Luck Gaming, which had been developing a $175 million casino in Terre Haute.

In its ruling, the commission said Lucy Luck had not hired an executive team to run the casino and also did not have full financing secured for the casino’s operations, according to our partners at WTHI-TV. That came despite the company telling the commission in March that it had secured a financing package to complete the project.

Lucy Luck filed an appeal of the IGC’s decision, the result of which could be the settlement offer to be discussed at the commission’s business meeting on November 15. No other details are available aside from the settlement offer being listed on the agenda for the meeting.

The commission reopened applications for the license in July and received four proposals from Louisville-based Churchill Downs Inc. (Nasdaq: CHDN), Full House Resorts Inc. (NASDAQ: FLL), Hard Rock International, and a joint venture involving Mississippi-based Premier Gaming Group. 

The IGC is still expected to announce the winning proposal on November 17, though it is not clear if the settlement offer will have an effect on the decision.