Search
 

With Second Indiana Casino in the Pot, Caesars Folds

FRENCH LICK, IN-The Las Vegas-based gaming behemoth kisses this town goodbye, saying the community's eyes are too big for the company to stomach without being profit-starved. Three others are still in the game.

By Brian K. Miller | Updated on February 17, 2004

FRENCH LICK, IN-Publicly traded Caesars Entertainment Inc. has withdrawn its bid for a casino license here in Orange County, saying it would not be able to meet the community’s expectation and hit its own target with regard to return on investment.

The explanation was laid out in a letter to the Indiana Gaming Commission. The Las Vegas-based gaming behemoth formerly known as Park Place Entertainment said another factor in the decision was its conclusion that heretofore anticipated cost savings from combining some operations with its larger property, Caesars Indiana, located about 45 miles away, would not be achievable.

Meanwhile, three other operators remain interested in operating a casino in one of the poorest counties in the state. They include Tranchant Indiana, a group that is affiliated with Groupe Tranchant, a French company that operates 20 casinos in France and four in other countries; Trump Hotels and Casino Resorts, and; a group led by Indiana Pacers president Larry Bird.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.