New Casino In Evansville Indiana

• This year's Indiana legislative session could end Wednesday with votes expected on a new state budget plan and a proposal legalizing sports betting and allowing new casinos in Terre Haute and Gary.
• Caesars chief executive Thomas Reeg told the commission that it would keep up the Hammond casino ahead of a future sale. The company plans to retain ownership of the central Indiana casinos in Anderson and Shelbyville, while it is in the process of selling those in Evansville and the Louisville, Kentucky-area community of Elizabeth.

With land based gaming approved, Tropicana Evansville moved to replace their riverboat casino with this new casino development, the first land-based casino in Indiana. The new casino is situated between the LeMerigot Hotel and Tropicana Evansville Hotel, connecting all of the Tropicana properties.
Designed in association with SOSH architects, the new casino brings a wealth of entertainment and enhanced gaming experiences for patrons. The Havana-inspired colors and textures throughout provide an exciting place to play. Dining options include The Tap House restaurant and bar as well as The Deli which provides authentic New York-style fare in a bright, contemporary setting. An ultramodern entertainment area, 421, offers guests an energetic experience with bottle service and a stage for performances.
The new casino opened in October 2017 and has experienced record attendance numbers since then. If you haven’t been yet, make sure to check it out.

Twin River Worldwide Holdings has announced an agreement with Caesars Entertainment to acquire the Tropicana Evansville Casino in Indiana for $140m. The transaction’s structure will allow Twin River to take over the property without a cash outlay. It also casts doubt over Indianapolis-based Spectacle’s construction of a new $300 million casino in Gary in partnership with Hard Rock International. The commission’s board members also voted for a 90-day emergency suspension of Ratcliff’s state casino license and gave him until Jan. 8 to turn over to a trustee all his stake in the.

EVANSVILLE, Ind. — Tropicana Evansville will likely be sold by the end of 2020, according to multiple reports Saturday detailing the terms of parent company Eldorado Resorts' acquisition of casino giant Caesar's Entertainment.

The Indiana Gaming Commission on Friday approved the $17.3 billion merger of Eldorado Resorts and Caesars Entertainment Corp. — with conditions.

Eldorado Resorts, based in Reno, Nevada, is the current owner of Tropicana Evansville. Currently, Caesar's has four Indiana locations: Hoosier Park in Anderson, Horseshoe Casino in Hammond, Indiana Grand in Shelbyville and Caesar's Southern Indiana in Elizabeth.

Eldorado officials agreed that the combined company, which would operate as Caesars Entertainment Inc., would divest three Indiana properties to address concerns about the company's market concentration. Eldorado shall have definite agreements for those divestitures on or before Dec. 31.

According to the Associated Press, Eldorado chief executive Thomas Reeg told the commission that the Evansville and Elizabeth locations would 'likely be sold,' with a sale of the Hammond casino also a possibility.

By the commission's projections, the merger as originally proposed would result in Caesars Entertainment Inc. controlling between 50% to 60% of gaming revenues in Indiana. By divesting at least two of those properties it would fall to at or below 40%.

Eldorado resorts would become one of the largest casino chains in the U.S., with operations in 16 different states. The merger has already been approved by the state of Nevada and federal regulators.

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Executives also made assurances to maintain employment levels for some time after the merger closes. Metrics will be worked out with the gaming commission.

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'We are open to any employment conditions that you would impose upon the combined company. We do not see significant cuts in the Indiana assets. We didn't see that prior to COVID, as I said,' Tom Reeg, Eldorado Resorts CEO, said during the virtual meeting. 'Post-COVID a lot of it's going to be impacted by what operations we're allowed to bring back, but Indiana job cuts are not a material percentage of any savings that we see going forward.'

The Federal Trade Commission is requiring Eldorado-Caesars to divest casino assets in the South Lake Tahoe area of Nevada and the Bossier City-Shreveport area in Louisiana to settle charges that the merger likely would be anti-competitive in those markets.

Eldorado is selling its Isle of Capri casino in Kansas City, Missouri, independent of the proposed acquisition of Caesars. Eldorado views Indiana as a growth market.

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The new company would focus on growing revenues at Indiana properties reopened to the public, growing and improving horse racing in Indiana, and support the expansion of table games at Hoosier Park and Indiana Grand.

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The Indianapolis Star contributed to this report.

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This article originally appeared on Evansville Courier & Press: Reports: Tropicana Evansville 'likely' to be sold by end of 2020