Caesars Given Extension for Indiana Casino Sale in Hammond

The Indiana Gaming Commission has granted Caesars Entertainment extra time to sell its Horseshoe Hammond Casino.

Caesars agreed to sell three of its Indiana casino properties as a condition of Indiana approving the Caesars merger with Eldorado. That deal was approved this summer after being in the works for more than a year.

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In a meeting on Monday, the IGC agreed to extend the deadline for the sale until Dec. 31, 2021, according to the Northwest Indiana Times.

Caesars has a total of five properties in Indiana and plans to keep the two racinos (casinos at horse tracks) in the state, Indiana Grand and Harrah’s Hoosier Park, according to the Times story.

The Horseshoe Hammond Casino is less than a mile from the Illinois state line, right outside Chicago. The facility reported nearly $24.5 million in taxable AGR and $31.1 million in table game drop in October, both tops in the state according to IGC figures.

Caesars has already agreed to sell the Tropicana Casino in Evansville to Twin River Worldwide Holdings for $340 million. Twin River has since bought Bally’s and rebranded as Bally’s in recent weeks.

The Federal Trade Commission gave its approval for the Caesars-Eldorado merger in June, assuming further green lights from the various states where the merged companies are to operate. Indiana was one of the last states to approve the $17 billion deal.

The Indiana gaming scene — already a success in sports betting with more than $200 million in handle in its best months — could get a boost in 2021. State Sen. John Ford said recently that he plans to introduce an online casino bill next year. Neighboring Michigan is close to launching its iGaming options, either late this year or in 2021. All 13 Indiana casinos would have a chance to apply for iGaming licenses is the state approves.