Caesars Entertainment Corporation Finishes Centaur Holdings acquisition

In Indiana, Caesars Entertainment Corporation has announced the conclusion of the previously-agreed bargain to acquire local casino operator, Centaur Holdings, and its Indiana Grand Racing and Casino and Hoosier Park Racing and Casino properties.

According to a official Monday press launch from Caesars, the purchase has cost the Las Vegas-based giant some $1.625 billion in cash alongside $75 million in deferred compensation and also includes a trio of off-track gambling facilities in the Indiana communities of New Haven, Clarksville and Indianapolis.

The company and its various subsidiaries already operated some 47 casinos across 13 states and five countries including Indiana’s Horseshoe Hammond and Horseshoe Southern Indiana and clarified that it now intends to spend upwards of $50 million to enhance its most recent purchases. The operator stated that these upgrades are set to include the enhancement of the venues’ information engineering systems in addition to the debut of its Total Rewards customer loyalty program.

Caesars announced that it now intends to seek consent to bring live-dealer games to the central Indiana venues while preserving their horseracing events and dining and entertainment outlets.

Mark Frissora, President and Chief Executive Officer for Caesars Entertainment Corporation, explained the purchase of Centaur Holdings as ‘an equally significant part our growth strategy’ that is destined to expand its brand, increase earnings and facilitate the ‘extensive distribution of their Total Rewards program. ’

“The Centaur [Holdings] acquisition expands our footprint to the alluring central Indiana area with intriguing new destinations that are profitable, well capitalized and highly complementary to our existing portfolio,” see an announcement from Frissora.

The final of the purchase comes after Caesars Entertainment Corporation agreed to pay a $1 million fine to the Indiana Gaming Commission earlier this month for allegedly trying to swerve the $50 million license transfer fee connected to the purchase of Hoosier Park Racing and Casino.