Hoosier's Owners Buy Indiana Downs

Published: January 10, 2013 01:11 pm EST

Indianapolis-based Centaur Holdings, LLC received the Indiana Gaming Commission’s conditional approval today of its agreement to purchase Indiana Grand Casino and Downs in Shelbyville, Ind.

The state commission’s unanimous decision, the second of two state-level regulatory approvals needed, comes after last month’s Indiana Horse Racing Commission endorsement. A final review by the Chairman of the Indiana Horse Racing Commission and several financing and federal regulatory and legal approvals will complete the purchase.

“Both the Indiana Gaming and Horse Racing Commissions’ unanimous approvals place the purchase of Indiana Grand Casino and Downs near completion, with several regulators still needing to fully review the finalized agreement,” said Rod Ratcliff, Centaur Holdings, LLC chairman and chief executive officer. “Centaur is ready to expand our Indiana roots, investment, and positive community relationships through the successful completion of this acquisition.”

Centaur, founded in 1993, is a privately owned company, managed by Hoosiers and headquartered in Indianapolis. “The commissions’ concurrence is a sign of confidence in the Centaur management team’s experience and knowledge in creating quality entertainment experiences for our customers,” concluded Ratcliff.

The addition of Indiana Grand Casino and Downs to Centaur’s Hoosier Park Racing & Casino in Anderson, Ind. will nearly double the company’s total workforce to approximately 2,000 Indiana residents. “Centaur places the highest possible value on employees, customers, and community and hopes to continue to build on the overall enhancements made by the current Indiana Grand Casino and Downs management team,” said Jim Brown, Centaur and Hoosier Park’s president and chief operating officer. “Whether it is the quality of the employees’ work environment, the products and services provided to guests, or the support provided to the local community, Centaur is dedicated to its promise of operational excellence.”

Indiana Grand Casino and Downs, located in Shelbyville, Ind., opened its racetrack, Indiana Downs, in December 2002. Indiana Grand Casino, formerly Indiana Live!, opened to the public in June 2008.

Indianapolis-based Centaur Holdings, LLC focuses on bringing the entertainment and economic benefits of casino gaming and horse racing to key communities across Indiana. Centaur currently owns and operates Hoosier Park Racing & Casino in Anderson, Ind., Hoosier Park’s Winner’s Circle Pub, Grille & OTB in Indianapolis, Ind. and off-track betting facilities in Fort Wayne and Merrillville, Ind.