Caesars gets extension for selling casino

Monday 30th November 2020

Caesars Entertainment will have another year to sell its casino in the US state of Indiana as required by state officials.

The Indiana Gaming Commission voted last week to give the Caesars an extension from what had been a December 31 deadline.

The commission ordered Caesars in July to sell three Indiana casinos after its takeover by Eldorado Resorts gave the company five of Indiana's 13 state-licensed casinos, which generate between 50 and 60 per cent of state casino tax revenue.

Commission executive director Sara Gonso Tait recommended the deadline extension for selling the Hammond casino along Lake Michigan, citing uncertainty over casino expansion in Illinois and the impact of the coronaviurs pandemic on the gambling industry.

Caesars chief executive Thomas Reeg told the commission that it would keep up the Hammond casino ahead of a future sale.

The company plans to retain ownership of the central Indiana casinos in Anderson and Shelbyville, while it is in the process of selling those in Evansville and the Louisville, Kentucky-area community of Elizabeth.

Source
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