💰 Sale of Gary's Majestic Star casinos wins state approval - Chicago Tribune

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Spectacle Entertainment plans to construct a $ million casino, including a ​-room hotel, along the Borman Expressway in Gary, if the.


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Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August In November , the company agreed to be acquired by Spectacle Entertainment​, a.


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approved the sale of the Majestic Star's two Gary casinos. The deal could lead to the creation of Northwest Indiana's first land-based casino.


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Once the purchase is final, Spectacle will own and operate a hotel, pavilion, parking garage and two casino boats on Lake Michigan that are marketed as a single gaming facility, but are, in fact, two separate casinos for state and local tax and oversight purposes. Sorry, your subscription does not include this content. Joseph Svetanoff, a Gaming Commission member from Crown Point, was first to congratulate Spectacle on its "amazing" Majestic Star transaction, moments before the commission vote. Ratcliff was careful not to say too much about what's to come, to avoid derailing or impeding the legislative approval process that's required by law to conclude on or before April However, he said Spectacle has a "good outlook" for the existing Majestic Star facilities on Lake Michigan that he anticipates operating as-is for at least a year or two, depending on how things proceed in the General Assembly. Edit Article Add New Article. If all goes according to plan, the Majestic Star casinos will close to patrons Tuesday night for a final accounting of operations under current owner Majestic Holdco LLC, and then the casinos will reopen Wednesday afternoon under Spectacle's ownership. Subscribers can log in for unlimited digital access. Sign Up Today. Get up-to-the-minute news sent straight to your device. Thanks for being a subscriber. Notifications Settings. Please call to upgrade your subscription. Share this. Mar 2, Big win for Gary land-based casino proposal in first Indiana Senate committee hearing. Please log in to use this feature Log In. You can support our newsroom by joining at our lowest rate! Spectacle has announced plans to relocate one of the casinos to a land-based site in Gary, adjacent to the Borman Expressway, and to use its second owner's license to open a casino in the west-central Indiana city of Terre Haute. The Republican-controlled Indiana Senate last month approved the casino relocations in Senate Bill That measure, which also legalizes sports wagering and makes other gaming industry changes, is awaiting action in the Republican-controlled House. Nov 28, Close 1 of 3. Apr 16, Gary, Terre Haute mayors remind lawmakers of economic development potential of casino moves. News Alerts Subscribe. Gary City Council President Ron Brewer and Dayna Bennett, chief of staff to Gary Mayor Karen Freeman-Wilson, told the Gaming Commission the city supports the ownership change, and is excited about the new employment and economic development prospects Spectacle's relocation plans make possible. There was a problem saving your notification. Just In. Indeed, Spectacle's acquisition of Majestic Star would make the Gary casinos the only gaming operation in the state owned by an Indiana-based company.

Michael McMains, Indiana Gaming Commission chairman, signs the official order Friday following a unanimous commission vote authorizing Spectacle Entertainment to acquire the Majestic Star casinos in Gary.

Senate Bill 66, which also is pending in the House, establishes a joint state-city Gary Indiana Transmodal Compact continue reading oversee the development and operation of new intermodal facilities at Buffington Harbor and the Gary-Chicago International Airport.

We believe it will bring some new excitement and renewed interest in gaming in the city of Gary, in addition to new revenue, which we are extremely excited about. GARY — The family of majestic star casino sold influential Schererville Republican is joining a group of downstate investors hoping to set a new course there palm desert indian casinos will this city….

A newly formed company headed by two downstate businessmen majestic star casino sold an agreement to club gold login the Majestic Star casinos in Gary, amid talk of redevelopin….

Manage followed notifications. Stay up-to-date on the latest in local and national government and political topics with our newsletter. Apr 22, majestic star casino sold General Assembly all-in on Gary casino move, legal sports wagering.

Don't have an account? The Indiana Gaming Commission unanimously agreed Friday to authorize Spectacle's acquisition of Majestic Star for an undisclosed sum in a transaction that's expected to be finalized Wednesday.

Government majestic star casino sold Politics. Related to this story. Log In Become a Member. Sign up! Latest News Subscribe. Apr 12, House all-in on Indiana gaming industry changes, but predicting final outcome is uncertain bet. Already a subscriber?

More Close. Feb 7, Indy-based company agrees to buy Majestic Star. The city plans to use some of that revenue to yoko casino Buffington Harbor into an intermodal shipping and warehousing hub that uses Gary's water, rail, highway and air connections to offer businesses an alternative to moving goods through Chicago.

Dan Carden, The Times. Close Followed notifications. Ratcliff led much of his Spectacle team when they previously worked together at Centaur Gaming, which last year sold the two central Indiana horse track casinos to Caesars Entertainment, the parent company of the Hammond Horseshoe Casino.

You have run out of free articles. Making room for new development. Apr 24, Senate approves plans for Majestic star casino sold casino move, Buffington Harbor development.

Casino revenue off slightly in March. Log in or Activate your account. Region leaders clash at Statehouse over proposed Gary casino move to Borman Expressway site.

Feb 26, Senate protects Region casino communities from gaming tax revenue loss due to Gary casino move. Mar 27, Mar 28, Apr 9, Northwest Indiana Business Headlines. Mar 21, Latest Headlines. Rusthoven said that fact is even more special when you consider the two Majestic Star gaming licenses were the first issued in Indiana, for what then were separate casinos operated by the late Don Barden and Donald Trump, now president of the United States.

Feb 25, Schererville Republican family rolls dice to win Gary's casinos; Larry Bird trusts also named as investor. Your notification has been saved. Apr 18, Reduced fee for Gary casino move in final version of gaming legislation taking shape at Statehouse.

Local Sports Subscribe. Breaking News Subscribe. Northwest Indiana's casinos ended the first quarter of with gaming revenue off 3. Dashboard Logout.

It's time to transition to the next stage, to a company that is owned by Hoosiers, and Hoosiers who I think have more experience in the gaming business than anybody else.

Dan has reported on Indiana state government for The Times since He also covers casinos, campaigns and corruption. Weather Alerts Subscribe.

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