Caesars greenlighted to keep Horseshoe Hammond casino ownership and operation

The Indiana Gaming Commission (IGC) amended its order requiring Caesars Entertainment to sell a third casino asset in the state. Therefore, Caesars will continue to own and operate Horseshoe Hammond, Indiana Grand, Harrah's Hoosier Park, and its three off-track betting locations.

The IGC voted 4-1 Thursday to rescind its prior orders for Caesars Entertainment to sell the Horseshoe Casino in Hammond to a new operator by the end of this year. Commission members were convinced that amid enhanced competition from the Hard Rock Casino in Gary, and potential new casinos in Chicago and south suburban Cook County, it's in the best interest of the Hoosier State that a recognizable brand with years of experience in the Northwest Indiana gaming market continue to operate the Hammond casino, The Times of Northwest Indiana reports.

Marc Fine, of Evansville, was the only commissioner to favor leaving the IGC divestment orders intact. He said one casino company should not control 30% to 40% of the Indiana gaming market as Caesars does with the Horseshoe and its two central Indiana horse track casinos. Caesars actually owned five of Indiana's 13 casinos following its $17.3 billion merger last year with Eldorado Resorts.

However, the IGC deemed that an "undue economic concentration" of the state's gaming industry and ordered Caesars to divest all but two of its Indiana properties.

Earlier this month, Caesars CEO Tom Reeg and Hammond Mayor Thomas McDermott Jr. each asked the IGC to reconsider that decision and allow Caesars to also retain the Horseshoe, given the company's superior stewardship of the Hammond property over the years.

Following Thursday's decision, Reeg said: "We are confident that our continued operating of Horseshoe Hammond is in the best interest of our Team Members, guests, the Hammond community, and the State of Indiana. We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best positioned for a strong and exciting future."

Caesars Entertainment recently closed on the sale of Tropicana Evansville and expects to close on the sale of Caesars Southern Indiana sometime in the third quarter of 2021.