Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, October 31, 2007
(ANDERSON) - Hoosier Park’s owner has secured $1 billion in financing — one-fourth of which will go to pay for a state license for a new slot machine expansion.
Indianapolis-based Centaur Inc. closed the deal Tuesday, just two days before a Nov. 1 deadline for the first payment on the licensing fee.
The Indiana General Assembly approved a bill in April authorizing slot machines at Indiana's two pari-mutuel horse racing tracks, Hoosier Park in Anderson and Indiana Downs in Shelbyville.
The state law allowing slot machines requires tracks to pay an initial licensing fee of $250 million, with the first $150 million due Thursday.
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