ELIZABETH, Ind. (Inside INdiana Business) — North Carolina-based EBCI Holdings has finalized its purchase of Caesars Southern Indiana in the Harrison County town of Elizabeth. The new owner says it plans to retain the nearly 900 staff and management in their current positions. EBCI represents the commercial gaming and hospitality business for the Eastern Band of Cherokee Indians.
“As we’ve discovered, Caesars Southern Indiana also employs an excellent workforce and has made meaningful investments in the community over the last two decades. We look forward to building on that success,” said Scott Barber, chief executive officer of EBCI Holdings.
EBCI agreed to purchase the operations of the casino in December 2020 for a base purchase price of $250 million. EBCI will operate the casino under the Caesars brand. Caesars sold the property as a condition of its $17 billion merger with Eldorado Resorts last year.
The tribe operates two Caesars Entertainment casinos in western North Carolina. Caesars Southern Indiana is the tribe’s first out-of-state acquisition.
“Today marks a significant milestone not only for the tribe but also for our longstanding relationship with Caesars Entertainment,” said Eastern Band of Cherokee Indians Principal Chief Richard Sneed. “Caesars Entertainment has been a great partner for us in North Carolina and we’re excited to continue that success in Indiana.”
The closing follows the approval from the Indiana Gaming Commission last month.
ELIZABETH, Ind. (Inside INdiana Business) — The Indiana Gaming Commission has approved the $250 million sale of Caesars Southern Indiana casino in the Harrison County town of Elizabeth to North Carolina-based EBCI Holdings.
EBCI represents the commercial gaming and hospitality business for the Eastern Band of Cherokee Indians, which announced the purchase in December.
EBCI will operate the casino under the Caesars brand. Caesars sold the property as a condition of its $17 billion merger with Eldorado Resorts last year. The tribe expects to close the deal next month. EBCI says the current 900 workers will have the opportunity to retain their positions.
“We are delighted to move forward with Caesars and expand our already successful portfolio,” said R. Scott Barber, chief executive officer of EBCI Holdings. “Not only is it a beautiful, recently renovated property, but Caesars is also a storied brand in the southern Indiana community. We’re honored carry on that legacy as we continue to elevate Caesars’ world-class guest experience.”
While EBCI will operate the casino, VICI Properties Inc. will own the actual property.
The Eastern Band of Cherokee Indians operates two other tribal casinos in North Carolina, also under the Caesars brand.
ELIZABETH, Ind. (Inside INdiana Business) — The expected new owners of Caesars Southern Indiana have formed a new leadership team for the casino. The Eastern Band of Cherokee Indians, which in December announced plans to acquire the casino, says EBCI Holdings LLC will retain all of the casino’s employees when the $250 million deal closes.
EBCI Holdings will be led by Chief Executive Officer Scott Barber, a former regional president for Caesars Entertainment Inc. (Nasdaq: CZR). Adele Jacobs-Madden, a member of the Eastern Band of Cherokee Indians, will serve as chief financial officer.
The Eastern Band says EBCI Holdings was created to diversify its holdings in the commercial gaming and hospitality industry. The acquisition of Caesars Southern Indiana will be the tribe’s first casino outside of North Carolina.
Caesars Southern Indiana is being sold as part of Caesars’ requirement to divest certain properties after its merger with Eldorado Resorts Inc. in July 2020. The casino employs more than 700 in the Harrison County town of Elizabeth.
“Caesars Southern Indiana is a beautiful facility with a well-established brand and a superb team of hundreds of local employees already in place. We want to keep the same friendly, fun, familiar environment for our guests,” said Barber. “Our intent is to build on the facility’s success and offer guests additional opportunities to play at EBCI’s Harrah’s-branded North Carolina properties while also having access to all properties throughout the Caesars Rewards network.”
The acquisition still requires regulatory approval from the Indiana Gaming Commission, as well as other closing conditions. EBCI Holdings expects to receive approval this fall.
ELIZABETH, Ind. (WISH) — An Indiana business owner is still emotional after he was selected to take part in President Donald Trump’s “Made in America” week.
Brian Newton and his wife, Liz, traveled to Washington, D.C., this week. The couple run a broom business out of southern Indiana.
The brooms are made from materials found in Indiana and other parts of the country. Newton received a call from the White House last week to take part in the campaign.
Newton got to display his brooms for five hours inside the White House. The couple got to meet Trump and Vice President Mike Pence.
The Indiana Statehouse Bureau spoke exclusively with Newton after he got back to Indiana.
“To be honest with you, I felt a little bit like a cross between Forrest Gump and the Clampetts. We pulled up to the White House in our working pickup truck with the utility shell on it, and it’s like, wow, this is like the the coolest place we’ve ever been.”
The campaign is linked with an executive order recently signed by Trump to encourage more American-made products.On Friday, Indiana Statehouse Bureau Chief Nick Natario will explain how the executive order could impact Hoosier businesses.