Caesars Entertainment Corporation announced on Thursday (November 16) it has entered into a definitive agreement to acquire Centaur Holdings, LLC—including 2017 Breeders Crown host Hoosier Park and its sister track Indiana Grand—for $1.7 billion.

"The addition of Centaur is the first example of our post-emergence, inorganic growth strategy," said Mark Frissora, President and Chief Executive Officer of Caesars Entertainment. Caesars, with a presence in Chicagoland via their Horseshoe Hammond casino and the Louisville area via Horseshoe Southern Indiana, will also control the Indianapolis market by way of their acquisition of the Hoosier and Indiana Grand racinos.

"We are impressed with Centaur's operations and culture, and the strong presence it has built in its host communities. Together, we will build on our respective value creation and execution achievements for the benefit of customers, employees and local partners," Frissora said. "We look forward to welcoming Centaur's properties, guests and employees to the Caesars Entertainment family."

The complete release can be found here.

(with files from Caesars Entertainment)