Brought to you by WBIW News and Network Indiana
Last updated on Friday, April 8, 2011
(SHELBYVILLE, IN) - The parent company of Indiana Live Casino and Indiana downs is asking for bankruptcy protection.
Indiana Downs Capital Corporation filed the papers in federal court Thursday morning. Court documents show debts are owed to at least 20 different creditors.
It appears the Shelbyville Casino and Horse Racing Track will stay open during the court proceedings.
Shelbyville Mayor Scott Furgeson says he wasn't surprised to hear about the Chapter 11 filing.
He believes the casino and horse racing track both remain economically viable.
Furgeson says plans for a new hotel near the Indiana Downs Exit on I-74 are still in the works.
Both Indiana Live and Hoosier Park in Anderson have struggled financially since opening several years ago.
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