Pennsylvania’s tax revenue from commercial casinos approached $1.1 billion in the fiscal year that ended June 30. Indiana
was second with $878 million and Nevada third with $831 million.
Officials say they believe a northwestern Indiana casino might owe $5 million more in back property taxes than previously
estimated.
It may take some time to trickle down to Indiana, but the American gambling industry is starting to show early signs of recovery.
Gary Mayor Rudy Clay is calling for the Majestic Star casino to pay $22 million in overdue Lake County taxes before state
regulators vote on whether to renew the Gary casino's license.
Indiana Gov. Mitch Daniels used the story of a blackjack player’s lawsuit in telling Franklin College graduates about using
skill to push the odds in one’s favor.
Unsatisfied with the Hoosier Park owner’s reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion
of Chapter 11 bankruptcy into Chapter 7.
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.
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.
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.
Indiana’s reign at No. 3 may not last more than a year. It faces new competition from Ohio and possibly Kentucky.
Centaur LLC, which filed for Chapter 11 bankruptcy protection on Sunday, plans to sell its Colorado casino. Much of its debt
was incurred to upgrade
Hoosier Park in Anderson and add its slots parlor.
Indianapolis-based Centaur LLC, owner of Hoosier Park horse track and casino in Anderson, filed for Chapter 11 reorganization
on Sunday. The company’s casino, racing and hotel operations will continue without interruption, it said.
Gamblers wagered nearly $30 billion in 13 Indiana
casinos last year. Now, fellow taxpayers, if I understand these numbers, 91 percent of these dollars were returned as winnings and an additional $876 million (3 percent) went to our state and local
governments for our benefit.
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.
Both measures could be heavily amended before they are voted on as a whole.
Issue likely to land in House, Senate conference committee.
House Minority Leader Brian Bosma says he’ll fight any efforts to pass legislation allowing the state’s riverboat casinos
to move inland.
An Indiana Senate committee plans to consider legislation that would allow riverboat casinos on Lake Michigan and the Ohio
River to relocate inland.
A state senator said his committee will consider legislation that would allow riverboat casinos on Lake Michigan and the Ohio
River to move inland in hopes of staving off new competition from neighboring states.
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.
