Indiana authorities give Caesars one additional year for Horseshoe Casino's sale

Caesars Entertainment received on Monday a one-year reprieve on the sale of the Horseshoe Casino in Hammond from the Indiana Gaming Commission (IGC).

According to Sara Tait, IGC executive director, selling the property right now "presents unique challenges," including uncertainty over Illinois gaming expansion and the impact of the COVID-19 pandemic on the gaming industry in general.

She said: "granting relief regarding divestiture timing is in the best interest of the state and local community, and will not negatively impact operations at the property."

In July, the Gaming Commission directed Caesars to sell three of its five Indiana casinos by Dec. 31 to prevent an "undue economic concentration" of the state's gaming industry following the $17.3 billion acquisition of the former Caesars Entertainment Corp. by Eldorado Resorts Inc.

The "new" Caesars already sold the Tropicana Casino in Evansville for $480 million in October, and the company currently is in exclusive negotiations to sell the Caesars Southern Indiana casino in Elizabeth by Dec. 31, The Times reports.

Caesars plans to retain the two suburban Indianapolis horse track casinos, Harrah's Hoosier Park and Indiana Grand.