Emergency Rule Causing Friction in Indiana
The Indiana Gaming Commission is back in the courtroom this week, and it is hoping that a Marion County judge sides with their desire to have a lawsuit dismissed.
This lawsuit stems from some emergency rules that were implemented by the IGC earlier in 2021, and Spectacle Entertainment is right in the middle of it yet again.
The new rule that was passed by the IGC requires a 20-year history of personal information for investors in casino companies. This information includes criminal history, assets, employment history, and other business relationships.
As the IGC began investigating several key investors of Spectacle Entertainment, including Rod Ratcliff, the commission was having trouble finding enough accurate information. The hope was that by implementing this law, casino companies would work with the commission to provide this information so that there won’t be any problems in the future.
Ratcliff has had his gaming license permanently suspended by the IGC after it was discovered that he played a role in improper campaign funds. The investigation into other investors is still ongoing, and Spectacle is reportedly looking to protect a number of these investors.
There are 18 shareholders in the Spectacle Entertainment group, and seven of them have filed a lawsuit against the IGC. This group is seeking a temporary restraining order from the court in order to keep their personal information hidden and away from the regulators.
A deadline of May 7 was set by the IGC to receive the paperwork that was required by the shareholders, but action from the court could delay that process. The shareholders involved in this lawsuit believe that they are being unfairly targeted and that their application will be denied regardless of the information that is provided.
Leaders of the IGC claim that this lawsuit threatens their power over the gaming industry in the state and could lead to more problems in the future. This decision from the judge could shake up the gaming industry in Indiana, especially as it pertains to Spectacle Entertainment and its role.
Expansion Coming For Indiana Grand
In more positive gaming news in the state of Indiana, expansion is still happening at a number of Indiana casinos throughout the state. This time, the expansion is coming to the Indiana Grand Racing & Casino in Shelbyville.
There is already a $32 million expansion underway for the casino portion of this property, but the horse-racing venue will now be receiving a makeover. Caesars Entertainment owns and manages the property, and it is set to invest $7 million for this renovation.
Construction for this project is set to begin next month, and it will include the building of 50 additional rooms for the dormitory and a winterized and enclosed barn. This project will be fenced off from the current property for the safety of the workers and the horses currently on-site.
The additional 32,000 square feet of gaming space has already started to be constructed at Indiana Grand, and it should be done by the end of the year. Over 100 new permanent jobs will be created from this project, and a new World Series of Poker room will be unveiled.
For more sports news and legal sports betting in Indiana, check out more stories on our blog.
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