Purchase of Caesars Casino by Indian Holding - Approved

The purchase of Caesars Casino has been approved by the Indiana Gambling Commission. However, the real estate of the brand will not be transferred to the Indians.

The purchase of the Caesars casino by the Indian holding, EBCI Holdings, has been approved by the Indiana Gambling Commission. The issue, decided by officials in principle, will be financially completed in September, when the Indian community will transfer $ 280 million to the brand.

Commenting on the deal, EBCI said: Caesars helped us move forward and fund our revenue streams with casino cash with a recently refurbished hotel. The main one, of course, remains the brand known to southern Indiana. We are entrusted to preserve the legacy of the company while improving the quality of service.

The decision to purchase Caesars Southern Indiana was made by the Cherokee on December 17, approving the purchase of the casino up to $ 280. Provides for the deposit of cash and loan money. The facility, reminiscent of icasinoclub , is located in Elizabeth in the coastal area. Louisville, Kentucky, is visible on the other side of the river.

The deal sparked controversy among the members of the Tribe Council, however, supporters of the purchase of the business won out. The controversy was caused by the following circumstances: the tribe will own the financial block of the casino, and the property management will remain with the brand. Property rents will exceed $ 32 million per year. The holding will receive $ 40 million directly, and the tribe, according to state law, the structure can transfer a quarter of the profit - this is 3 ~ 5 million.