The expected new owners of Caesars Southern Indiana have formed a new leadership team for the casino. The Eastern Band of Cherokee Indians, which in December announced plans to acquire the casino, says EBCI Holdings LLC will retain all of the casino’s employees when the $250 million deal closes.
EBCI Holdings will be led by Chief Executive Officer Scott Barber, a former regional president for Caesars Entertainment Inc. (Nasdaq: CZR). Adele Jacobs-Madden, a member of the Eastern Band of Cherokee Indians, will serve as chief financial officer.
The Eastern Band says EBCI Holdings was created to diversify its holdings in the commercial gaming and hospitality industry. The acquisition of Caesars Southern Indiana will be the tribe’s first casino outside of North Carolina.
Caesars Southern Indiana is being sold as part of Caesars’ requirement to divest certain properties after its merger with Eldorado Resorts Inc. in July 2020. The casino employs more than 700 in the Harrison County town of Elizabeth.
“Caesars Southern Indiana is a beautiful facility with a well-established brand and a superb team of hundreds of local employees already in place. We want to keep the same friendly, fun, familiar environment for our guests,” said Barber. “Our intent is to build on the facility’s success and offer guests additional opportunities to play at EBCI’s Harrah’s-branded North Carolina properties while also having access to all properties throughout the Caesars Rewards network.”
The acquisition still requires regulatory approval from the Indiana Gaming Commission, as well as other closing conditions. EBCI Holdings expects to receive approval this fall.