🎰 Casino sale: Majestic Star a longtime casino fixture in Gary - CDC Gaming Reports

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Previously, Majestic Holdco sold Majestic Mississippi, LLC, the owner Majestic Holdco owns the subsidiaries, The Majestic Star Casino, LLC.


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Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August In November , the company agreed to be acquired by Spectacle Entertainment​, a.


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The sale of the Majestic Star Casinos marks the end of a plus-year relationship between the City of Gary and Donald Barden that began on.


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The two Majestic Star riverboats in Gary, Indiana, have been sold to two businesspersons who hope to relocate the casinos elsewhere in the.


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Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August In November , the company agreed to be acquired by Spectacle Entertainment​, a.


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Please call to upgrade your subscription. Making room for new development. GARY — The family of an influential Schererville Republican is joining a group of downstate investors hoping to set a new course for this city…. More Close. Log in or Activate your account. Once the purchase is final, Spectacle will own and operate a hotel, pavilion, parking garage and two casino boats on Lake Michigan that are marketed as a single gaming facility, but are, in fact, two separate casinos for state and local tax and oversight purposes. Mar 27, Mar 28, Apr 9, Northwest Indiana Business Headlines. Sorry, your subscription does not include this content. Mar 2, Big win for Gary land-based casino proposal in first Indiana Senate committee hearing. You have run out of free articles. Log In Become a Member. Your notification has been saved. Spectacle has announced plans to relocate one of the casinos to a land-based site in Gary, adjacent to the Borman Expressway, and to use its second owner's license to open a casino in the west-central Indiana city of Terre Haute. Crime Subscribe. Joseph Svetanoff, a Gaming Commission member from Crown Point, was first to congratulate Spectacle on its "amazing" Majestic Star transaction, moments before the commission vote. Dashboard Logout. Senate Bill 66, which also is pending in the House, establishes a joint state-city Gary Indiana Transmodal Compact to oversee the development and operation of new intermodal facilities at Buffington Harbor and the Gary-Chicago International Airport. Casino revenue off slightly in March. Stay up-to-date on the latest in local and national government and political topics with our newsletter. News Alerts Subscribe. Indeed, Spectacle's acquisition of Majestic Star would make the Gary casinos the only gaming operation in the state owned by an Indiana-based company. Close Followed notifications. Subscribers can log in for unlimited digital access. Ratcliff led much of his Spectacle team when they previously worked together at Centaur Gaming, which last year sold the two central Indiana horse track casinos to Caesars Entertainment, the parent company of the Hammond Horseshoe Casino. Manage followed notifications. Please log in to use this feature Log In. Breaking News Subscribe. Thanks for being a subscriber. Apr 12, House all-in on Indiana gaming industry changes, but predicting final outcome is uncertain bet. Dan has reported on Indiana state government for The Times since He also covers casinos, campaigns and corruption. Sign Up Today. Notifications Settings. Region leaders clash at Statehouse over proposed Gary casino move to Borman Expressway site. Government and Politics. Local Sports Subscribe. Apr 16, Gary, Terre Haute mayors remind lawmakers of economic development potential of casino moves. Get up-to-the-minute news sent straight to your device. Weather Alerts Subscribe.{/INSERTKEYS}{/PARAGRAPH} Latest News Subscribe. Feb 26, Senate protects Region casino communities from gaming tax revenue loss due to Gary casino move. Mar 21, Latest Headlines. {PARAGRAPH}{INSERTKEYS}Michael McMains, Indiana Gaming Commission chairman, signs the official order Friday following a unanimous commission vote authorizing Spectacle Entertainment to acquire the Majestic Star casinos in Gary. Edit Article Add New Article. Apr 18, Reduced fee for Gary casino move in final version of gaming legislation taking shape at Statehouse. Dan Carden, The Times. The Republican-controlled Indiana Senate last month approved the casino relocations in Senate Bill That measure, which also legalizes sports wagering and makes other gaming industry changes, is awaiting action in the Republican-controlled House. Apr 24, Senate approves plans for Gary casino move, Buffington Harbor development. Feb 25, Schererville Republican family rolls dice to win Gary's casinos; Larry Bird trusts also named as investor. If all goes according to plan, the Majestic Star casinos will close to patrons Tuesday night for a final accounting of operations under current owner Majestic Holdco LLC, and then the casinos will reopen Wednesday afternoon under Spectacle's ownership. Don't have an account? Apr 22, General Assembly all-in on Gary casino move, legal sports wagering. There was a problem saving your notification. Nov 28, Close 1 of 3. Ratcliff was careful not to say too much about what's to come, to avoid derailing or impeding the legislative approval process that's required by law to conclude on or before April However, he said Spectacle has a "good outlook" for the existing Majestic Star facilities on Lake Michigan that he anticipates operating as-is for at least a year or two, depending on how things proceed in the General Assembly. Gary City Council President Ron Brewer and Dayna Bennett, chief of staff to Gary Mayor Karen Freeman-Wilson, told the Gaming Commission the city supports the ownership change, and is excited about the new employment and economic development prospects Spectacle's relocation plans make possible. Rusthoven said that fact is even more special when you consider the two Majestic Star gaming licenses were the first issued in Indiana, for what then were separate casinos operated by the late Don Barden and Donald Trump, now president of the United States. You can support our newsroom by joining at our lowest rate! Northwest Indiana's casinos ended the first quarter of with gaming revenue off 3. Sign up! We believe it will bring some new excitement and renewed interest in gaming in the city of Gary, in addition to new revenue, which we are extremely excited about. The Indiana Gaming Commission unanimously agreed Friday to authorize Spectacle's acquisition of Majestic Star for an undisclosed sum in a transaction that's expected to be finalized Wednesday. It's time to transition to the next stage, to a company that is owned by Hoosiers, and Hoosiers who I think have more experience in the gaming business than anybody else. The city plans to use some of that revenue to redevelop Buffington Harbor into an intermodal shipping and warehousing hub that uses Gary's water, rail, highway and air connections to offer businesses an alternative to moving goods through Chicago. Already a subscriber? A newly formed company headed by two downstate businessmen has an agreement to buy the Majestic Star casinos in Gary, amid talk of redevelopin…. Share this. Feb 7, Indy-based company agrees to buy Majestic Star. Related to this story.