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Gaming board OKs sale of Shelbyville casino
Updated: Thursday, 10 Jan 2013, 2:22 PM EST
Published : Thursday, 10 Jan 2013, 8:49 AM EST
INDIANAPOLIS (WISH) - The Indiana Gaming Commission on Thursday approved the sale of Indiana Downs and Grand Casino in Shelbyville, 24-Hour News 8 news partner The Herald Bulletin reports .
The owners of the Shelbyville casino and racetrack filed for bankruptcy in 2011.
Last fall, Centaur – owner of the racino in Anderson, Hoosier Park - made the winning bid for Indiana Downs and Grand Casino. A bankruptcy judge approved the deal in November, but it still needed regulatory approval from the Gaming and Horse Racing commissions. Centaur was to pay $500 million and assume the second racino’s debts.
The Horse Racing Commission approved the sale last month. A final review by the chairman of the Indiana Horse Racing Commission and several financing and federal regulatory and legal approvals will complete the purchase.
The two racinos employ about 2,000 people altogether.
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