VEVAY — A planned $45-million expansion of Belterra Casino’s hotel has been canceled following the Legislature’s decision to allow slot machines at Hoosier Park and Indiana Downs horse tracks.
Casino owner Pinnacle Entertainment cited the legislative move in deciding to indefinitely postpone the planned expansion of its hotel along the Ohio River in southeastern Indiana’s Switzerland County.
Money for the riverboat casino’s project will be shifted to other markets, Pinnacle announced Tuesday in a first-quarter earnings report.
“It’s going to take just enough business off the river that it’s going to leave a dent in the revenue and affect the job market and affect capital investment,” said Larry Buck, a Pinnacle vice president and regional manager.
Up to 2,000 slot machines will be allowed at each of Indiana’s pari-mutuel horse tracks in Anderson and Shelbyville.
Supporters have said the slot machine bill will help the horse racing industry while providing much-needed cash for property tax relief. Licensing fees for the gambling machines will cover $550 million in property tax relief for homeowners over the next two years.
But Buck said Pinnacle’s decision represents “just one example of the capital investment that is not going to be made as a direct result of the legislation.”
Belterra draws 16 percent of its revenue from the Indianapolis market, and casino representatives believe many of those customers will now visit the horse tracks instead.
The casino draws most of its customers from Louisville, Ky., Cincinnati and Lexington, Ky.
The project would have added a new tower with 250 rooms to the existing casino hotel.
Local News
5:08 p.m.: Belterra cites track slot machines in dropping expansion
- Local News
-
-
Anderson man dies at Monroe Reservoir; 3 others arrested
Memorial Day weekend took a tragic turn Saturday evening as an Anderson man visiting Monroe Reservoir died. Three other Anderson men were arrested later that day following the death of Matthew Hosier, 29.
-
Getting Together: Silence not golden for this library program
Certain rules govern almost all libraries: be quiet, don’t mar the pages and absolutely no food or drinks on the premises. But a small group of patrons wait until after hours, lock themselves in the back room of the Alexandria-Monroe Public Library, eat popcorn, drink soda and loudly scoff as they watch bad movies.
-
Veteran receiving Bronze Star 68 years late
An Army veteran will be awarded a Bronze Star on Memorial Day — 68 years after he was originally supposed to receive it.
-
Memorial Day activities set
For Memorial Day weekend, here’s a list of activities to participate in.
-
Arrest Log: May 28
Arrests made by Madison County law enforcement on Saturday, based on Madison County Jail records. Charges are recommended by arresting officers, but are not final until the Madison County prosecutor reviews the case and files official charges.
- Conservation officers arrest Anderson boater on alcohol charge
-
What's Where: May 28
Local activities are scheduled Monday.
-
Handicapped murder convict alleges prison discrimination
Since October 2006, Donald Lock has been confined to a wheel chair because of a degenerative bone disease. He has spent time at correctional facilities throughout the state, but it wasn’t until he was transferred to Pendleton earlier this year that he said he felt his disability was ignored.
-
Arrest log: May 27
The following arrest log appears in the Sunday edition of The Herald Bulletin.
-
Parents at Little League say coach took money
Parents of the North Anderson Little League filed a complaint with police against a former coach who they say stole fundraiser money.
- More Local News Headlines
-
