Indiana Regulator Allows Caesars to Preserve Hammond Casino
Caesars Entertainment, Inc. will retain its ownership of Horseshoe Hammond Casino soon after the Indiana Gaming Commission on Thursday amended a previously issued divestiture order requiring the business to sell a third casino asset in the state.
As a result, Caesars will continue to own and run Horseshoe Hammond, Indiana Grand, and Harrah’s Hoosier Park, and 3 off-track betting facilities across Indiana.
Earlier this week, the Gaming Commission listed the “Horseshoe Hammond Divestiture Order” as an item on the agenda for its Thursday meeting. The regulator declined to offer further details on the matter when asked by neighborhood news outlets.
It was earlier this week again when reports emerged that Caesars had been searching to persuade gaming commissioners to let it keep Horseshoe Hammond as it believed that it was in the casino’s best interest to continue to operate beneath the company’s stewardship.
In July 2020, the Indiana Gaming Commission directed the gaming and hospitality powerhouse to sell 3 of its 5 casinos in the state by the end of that year to avoid an “undue financial concentration” of the nearby gaming market following Caesars’ $17.three billion combination with Eldorado Resorts.
The expanded group chose to sell the Hammond casino, along with its Caesars Southern Indiana and Tropicana Evansville properties.
Due to the Covid-19 pandemic and the challenges it raised to the industry, the regulatory agency in November gave Caesars an extra year to discover a buyer for Horseshoe Hammond.
A Powerful and Thrilling Future
Commenting on Caesars being allowed to preserve its Hammond property, the company’s CEO, Tom Reeg, mentioned in a statement that they are confident their “continued operating of Horseshoe Hammond is in the greatest interest of our Team Members, guests, the Hammond community, and the State of Indiana.”
Mr. Reeg went on to say that they think sustaining their sturdy client and employee relationship tends to make the home “best positioned for a sturdy and fascinating future.”
Public record requests not too long ago submitted by The Instances of Northwest Indiana showed current letters from Mr. Reeg and Hammond Mayor Thomas McDermott Jr. in which they urged the Gaming Commission to reconsider their order for the organization to sell the Hammond home.
Caesars’ leading official wrote in his letter that the Hoosier State would advantage from leaving the operator in charge of the casino amid an ongoing shakeup in the regional industry brought on by final month’s launch of Hard Rock Casino Northern Indiana in Gary, along with the pending development of casinos in Chicago and suburban Cook County in Illinois.
Mayor McDermott wrote that with competitors looming from neighboring Illinois, “now it is even much more essential to shore up the competitive benefit we have at our gaming place in Hammond.”
Source: Horseshoe Hammond Remains Portion Of Caesars Entertainment, PR Newswire, June 24, 2021