TERRE HAUTE, Ind. (Inside INdiana Business) — A new casino is officially coming to Vigo County. The Indiana Gaming Commission has awarded a vacant casino license to developer Spectacle Jack LLC, which plans to build a 100,000-square-foot casino in Terre Haute in conjunction with Hard Rock. The casino is expected to create up to 1,300 jobs and generate $120 million in revenue in its first year.
During a virtual press conference, Spectacle Jack Principal Investor Greg Gibson said the process has been a long journey.
“As I said in my presentation (to the commission), I was in this project because of the opportunity to bring a license to Terre Haute,” said Gibson. “I’m thrilled that we were the only applicant. I believe I know this community well and I think this is a great thing that can be a game changer for the community.”
Gibson says with the approval, the developers can immediately begin working on detailed designs for the casino beyond the preliminary designs previously released by Spectacle and Hard Rock.
“It’s our goal to try to push forward. We’ll also have to immediately start working on a financing package for the facility, which will be no small task in this environment but it’s our hope to get all this done so we can have a groundbreaking in September.”
Terre Haute Mayor Duke Bennett says the casino project puts the city on the map.
“The revenue that’s going to come back into the community will benefit everyone whether you go to the casino or don’t go to the casino,” said Bennett. “We’re going to have some funds now to invest in not-for-profits and quality of life projects, a variety of things that we can all benefit from. So it couldn’t be any more exciting from my perspective to get to the point we’re at today.”
Matt Bell, president of the Casino Association of Indiana, says the casino is expected to create $6.5 million in economic impact for Vigo County and the surrounding counties.
“Beyond direct employment, beneficiaries will include everybody along the supply chain: material suppliers, architects, engineers,” said Bell. “This is a fantastic economic opportunity for west central Indiana…and the benefits will begin long before the doors open to this gaming property.”
Gibson says while specific plans are not yet in place, his goal is to use as much local labor as possible to build the casino.