Indianapolis Casino Company Files for Bankruptcy
Centaur Gaming
Centaur Gaming, a casino company which owns properties in Indiana and Pennsylvania has filed for bankruptcy, after it was revealed they have debts totalling over $300 million. The company, which operates the Hoosier Park racino in Indiana has suggested it is filing for “bankruptcy reorganisation”, with Centaur Gaming’s chief financial officer, Curt Wilson, suggesting that the news shouldn’t come as a “surprise”. Wilson has been quick to point out that while the company’s debts might be large, their “operations are strong” and that they “have more than adequate cash flow to meet the operating needs”.
The bankruptcy filing has been expected by many within the industry, after it was revealed back in October that Centaur Gaming missed a $13.4 million payment, as part of its $350 million debt agreement. Centaur Gaming is currently developing the Valley View Downs and Casino project in Pennsylvania, which will combine both gaming and racing facilities. It’s believed the project could create up to 2,500 jobs in both hospitality and construction. Wilson has suggested that Centaur’s main gambling venue in Indiana, the Hoosier Racetrack, isn’t expected to be affected by the bankruptcy filing.
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