Caesars Prepares to Add Sportsbook to Horseshoe in Indiana

Caesars Entertainment Corporation, a world-known American gaming corporation based in Paradise, Nevada…

…announced that it will soon start the rebranding process of the casino property in Southern Indiana.

Named the fourth-largest gaming company in the world in 2013, with annual revenues of $8.6 billion, Caesars also plans on adding a brand-new sportsbook to the renovated venue.

The New Indiana Project

The renovation and expansion project of this Indiana casino will cost somewhere around $85 million. It actually started in June last year…

…and is expected to finish at some point next year.

The Caesars company plans on revealing more details about the casino, but for now, it is known that the venue will change its name from Horseshoe to Caesars Southern Indiana.

The casino will most likely change its name at some point after the expansion part of the project comes to an end.

Also, yet another part of the project is related to the relocation of the current riverboat casino to the land.

Caesars will build a new 100,000-square-foot gaming facility near the Horseshoe Southern Indiana hotel. The casino will have more slot machines and table games, as well as poker and lounge areas.

The venue’s lounge, bars, and restaurants are expected to be open to the public sometime next year.

New Ventures for Caesars Entertainment

The company was patiently waiting for the Indiana sports bill to get approved so that they could add a sportsbook to the property. But, this isn’t the only new venture for this gambling giant.

This company will also benefit significantly from a new deal it signed with ESPN on sports betting content and data distribution.

Also, the company recently sold all of its 70% stake in Emerald Resort & Casino in South Africa to Peermont Hotels, Casinos and Resorts for $49 million.

Sports Betting Legal in Indiana

The US state of Indiana legalized sports betting under its jurisdiction at the beginning of May. By doing so, it has become the 10th state in the US to fully legalize this type of gambling.

After retrieving the necessary approvals from both the Senate and the House, the only thing left was the approval of Governor, Eric Holcomb, who officially signed the bill.

Indiana House Bill 1015, which will come into effect from September 1 of this year…

…will allow in-person and mobile wagering on sports events in casinos, racinos, and off-track betting venues.

The operators will be able to start introducing their license applications at the beginning of July this year.

“Gaming is a highly regulated industry that once had little competition, but now does from surrounding states and new technology,” Holcomb said in his official report.

“By modernizing our laws, this legislation will spur positive economic growth for our state and for an industry that employs over 11,000 Hoosiers.”

“Additionally, it will bring in new revenue and create hundreds of new jobs – both permanent and in construction,” he explained.

Source:

“Caesars prepares to add sportsbook to Horseshoe in Indiana”, Erik Gibbs, calvinayre.com, May 17, 2019.