Indiana Gaming Commission Approves New Terre Haute Casino

Indiana Gaming Commission Approves New Terre Haute Casino

The Indiana Gaming Commission (IGC) recently gave its approval to a new $125 million Terre Haute casino by Spectacle Jack. The decision for the casino was previously postponed because the company’s executives were involved in a political scandal.

The decision during an online meeting

The decision to approve the new casino was taken during an online meeting of the commission. Spectacle Jack wanted to make a few changes for the IGC approved the property. It included ownership changes and a new application. The board reviewed the changes and greenlighted the property. The company will now utilize $120 million to develop the casino complex and another $5 million on licensing.

Indiana Gaming Commission Approves New Terre Haute Casino

The IGC originally planned to decide the fate of the casino project in March. However, the decision had to be postponed because two executives of Spectacle Entertainment, the parent company of Spectacle Jack, were involved in a political scandal. CEO Rod Radcliff and vice president and general counsel John Keeler faced federal investigation because of the issue.

A federal plea deal also went public in January this year, which alleged that Centaur Gaming funneled campaign contributions to a congressional candidate in the state in 2015. Both executives worked for Centaur in 2015. Both had to leave their positions at Spectacle because of the scandal. If neither of them gave up their stake ownership in the company, the Terre Haute deal would have fallen flat at the IGC.

What happens next?

The company got access to a gaming license because of another license it held for a second riverboat casino. The company’s two riverboat casinos decided to move to land in Gary, which became one property. Therefore, it still had another license to utilize. It coincided with a vote in Vigo County in November 2019, where Terre Haute is located. The vote approved casino gaming in the region.

Spectacle Jack’s Gary-based property is a $400 million investment is a hotel and casino in partnership with Hard Rock International. The two will also work together on the Terre Haute property.  Spectacle Jack’s principal investor Greg Gibson said that they want everyone who comes to the property to get impressed.

sherlock

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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