Articles

Centaur bets on risky restructuring plan

Bankrupt Hoosier Park owner Centaur Inc. has offered its creditors a risky reorganization plan. For it to work, dozens of
hedge funds must stay in the game, in return for a chance to buy a big chunk of the company later.

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Indiana high court hears casino card-counting case

An Indianapolis man sued the Grand Victoria Casino and Resort after it banned him from the blackjack table in 2006. The casino
won the suit, but the state appeals court reversed that decision. The casino asked the high court to weigh in.

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Downgrade a red flag for Indiana Live casino

New York-based Moody’s Investors Service has downgraded its credit rating for Indiana Live horse track and casino, a warning
signal that the Shelbyville facility may soon follow its Anderson counterpart Hoosier Park into bankruptcy.

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Bid to move casinos inland pulled from House floor

Rep. Bill Crawford unexpectedly pulled the measure after the House defeated his amendment to allow inland casinos while approving
another one to shift some of the tax burden from two central Indiana horse racing tracks with slot machines.

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Senate panel changes gambling, reading bills

The Senate Appropriations Committee voted Tuesday night to remove provisions that would have allowed casinos on Lake Michigan
and the Ohio River to move inland. It also made major changes to legislation that would have required schools to hold back
third-graders if they couldn’t read well.

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Newly opened racinos already face credit crunch

Clear signs emerged in 2009 that the Hoosier gambling market is oversaturated.
Major credit rating agencies expressed concerns that several casinos, including the state’s new horse track “racinos”
on the outskirts of Indianapolis, might go bust before the year was finished.

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