Caesars to retain ownership of Horseshoe Hammond
HAMMOND, Ind. (Inside INdiana Business) – Horseshoe Hammond Casino will remain under current ownership after a ruling from the Indiana Gaming Commission. The commission this week amended its order requiring the casino’s Las Vegas-based parent, Caesars Entertainment Inc. (Nasdaq: CZR), to divest the casino as part of its 2020 merger with Eldorado Resorts Inc.
With the commission’s ruling, Caesars will continue to own and operate Horseshoe Hammond, Indiana Grand Racing & Casino in Shelbyville, and Harrah’s Hoosier Park Racing & Casino in Anderson, as well as its three off-track betting locations.
“We are confident that our continued operating of Horseshoe Hammond is in the best interest of our Team Members, guests, the Hammond community, and the State of Indiana,” Tom Reeg, chief executive officer of Caesars Entertainment, said in a news release. “We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best positioned for a strong and exciting future.”
Earlier this month, Caesars completed its sale of the Tropicana Evansville casino to Rhode Island-based Bally’s Corp. (NYSE: BALY) in a $140 million deal. The company also expects to close on the $250 million sale of Caesars Southern Indiana in Harrison County to the Eastern Band of Cherokee Indians in North Carolina sometime in the third quarter.
Both deals were made as part of the commission’s order related to the Eldorado merger.