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Indiana Live Casino recently filed Chapter 11 bankruptcy

April 09, 2011

Indiana Live Casino recently filed Chapter 11 bankruptcy. However, it is not a concern for Hoosier Park. On Friday, a spokeswoman for the parent company, Centaur, stated that it will not affect the racino.

Indiana Live is undergoing a restricting. This was stated by Susan Kilkenny, a spokeswoman for Centaur. The company believes that the chapter 11 will not affect the visitors experiences. That also business will continue as normal.

Indiana Live representatives stated that they are $540 million in debt. That they were also unable to restructure with their lenders. Hoosier Park also filed for bankruptcy last year. However, Hoosier Park’s outcome has been positive. It is expected that the racino will be out of debt by the end of the year.

Senate Bill 36 was passed on Tuesday by the Statehouse. This provides for a company to own several casinos on land. Previously, only river boat casinos could do that. With the new bill it will be possible for casinos to buy each other out. Centaur was an advocate for the bill. Since Indiana Live has just entered bankruptcy and Hoosier Park is working on resolving their debt problems, there may be change in the gaming landscape of the state

Return to Indiana Casinos.
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