Caesars Entertainment Corp. announced July 16 it has completed its purchase of Centaur Holdings for $1.7 billion.
The transaction adds Hoosier Park Racing and Casino in Anderson and Indiana Grand Racing and Casino in Shelbyville to Caesars’ properties across 13 states. Caesars operates the Horseshoe Casino in Hammond as well as the Horseshoe Southern Indiana, which serves the southern Indiana and Louisville areas.
“The Centaur acquisition expands our footprint to the attractive central Indiana region with exciting new destinations that are profitable, well-capitalized and highly complementary to our existing portfolio,” said Mark Frissora, president and CEO of Caesars Entertainment. “This project is an important part of our growth strategy, which expands our brands, increases revenue and facilitates broad distribution of the Total Rewards program.”
The Indiana gaming board approved the acquisition in late June.
Caesars Entertainment said it will be investing $50 million in various property improvements and IT upgrades to further enhance its guest experience.
Both Hoosier Park and Indiana Grand offer live and simulcast horse racing, multiple dining outlets, entertainment and feature approximately 2,000 slots and electronic table games. The properties accommodate more than 6.5 million guests combined each year and serve more than 1.1 million members as part of its loyalty program.
Caesars Entertainment Corp. is based in Las Vegas and now operates 47 casinos in 13 states.