ANDERSON, Ind. — An Indianapolis television station has reported that Hoosier Park Racing & Casino is on the brink of bankruptcy.
Fox 59 reported early Thursday morning that large loans due in the next 90 days may force Hoosier Park owner Centaur to file for bankruptcy.
“They are in very deep trouble, financially, and they don’t have much equity in the business,” State Sen. Luke Kenley (R-Noblesville) told Fox 59, noting that Centaur CEO Rod Ratcliff has approached him saying Hoosier Park will fold unless the state can provide tax abatements. “They have two large bonds which are in jeopardy of not being paid.”
Indiana Deputy Gaming Commissioner Jenny Reske said several Indiana casinos have undergone bankruptcy reorganization.
Joe Gorajec, executive director of the Indiana Horse Racing Commission, said he is not familiar with Hoosier Park’s financial status and has received no paperwork to suggest a bankruptcy.
“We’ve received nothing from Hoosier Park,” Gorajec said. “I’m not aware of any scenario whereby the track would discontinue operations.”
Indiana Gaming Commissioner Ernie Yelton previously told The Herald Bulletin that without financial relief, the bankruptcy of Hoosier Park Racing & Casino is “imminent.”
“I was repeating what representatives of Centaur have been suggesting to particular legislators,” Yelton said in June. “We don’t take a position one way or another.”
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Discussion
Source reports Hoosier Park near bankruptcy
Centaur may be unable to repay loans in the next 90 days
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