Centaur Moves Closer to Owning Indiana Downs

An important deadline passed Jan. 29 without opposition from a federal agency.

Centaur Holdings said it is closer to winning complete regulatory approval of its plan to purchase Indiana Grand Casino & Downs.

Centaur, which already owns Hoosier Park Racing & Casino in Indiana, said in a release a waiting period for a federal review of its purchase of Indiana Downs ended Jan. 29 with no action by the Federal Trade Commission. Centaur said that means it can seek financing for the racetrack casino, which it purchased pending approval at a bankruptcy auction for $500 million last year.

The purchase has been approved by the Indiana Gaming Commission and Indiana Horse Racing Commission.

If Centaur owns Indiana Downs by March, it can proceed with plans to make Indiana Downs a Thoroughbred and Quarter Horse-only track and Hoosier Park a Standardbred-only track. Under separate ownership each track has offered racing for all three breeds.

The Indiana Downs Thoroughbred/Quarter Horse race meet is scheduled to begin April 26.

"With all major regulatory requirements satisfied, Centaur is prepared to secure financing and move to complete the purchase of Indiana Grand Casino and Downs in the coming weeks," Rod Ratcliff, chairman and chief executive officer of Centaur, said in a release. "Indiana Grand Casino and Downs is an outstanding entertainment destination, with a superior group of employees, and a supportive community with whom we look forward to working alongside."