Caesars Entertainment Corporation’s plans to purchase Centaur Holdings moved a step closer Jan. 8 when a federal regulatory hurdle was cleared.
Caesars announced Jan. 8 that the Federal Trade Commission had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the previously announced acquisition of
The proposed acquisition, announced Nov. 16, 2017, would see Caesars purchase Centaur for $1.7 billion in cash, including $1.625 billion at closing and $75 million in deferred consideration. As a result of the transaction, Caesars will add Hoosier Park Racing and Casino in Anderson, Ind., and the Indiana Grand Racing and Casino in Shelbyville. Hoosier Park offers Standardbred racing while Indiana Grand offers Thoroughbred racing.
Caesars president and chief executive officer Mark Frissora said the purchase will help in the company’s efforts coming out of bankruptcy and that the corporation is looking forward to operating the two Indiana racinos.
"This important milestone brings us one step closer to completing this acquisition, which is part of our post-emergence, inorganic growth strategy," Frissora said. "In addition to expanding our gaming footprint,
“We are especially impressed by the racing operations at the Centaur properties and intend to import best practices from these properties to other
The acquisition of Centaur remains subject to