Caesars Southern Indiana officially has a new owner.
The Eastern Band of Cherokee Indians (EBCI) just bought the casino from Caesars for $250 million.
The Indiana Gaming Commission gave the deal the green light at its recent meeting.
Caesars Southern Indiana will maintain Caesars brand
Despite Caesars not owning the casino anymore, the company’s brand will still be front and center at the property.
That’s a first for Indiana, but it isn’t anything new for the Tribe.
The EBCI owns a pair of other casinos in North Carolina. Both of those spots are also using the Caesars brand.
That’s a different route than the recently-sold Tropicana Evansville will be taking.
R. Scott Barber, the chief executive officer of EBCI Holdings, says that keeping the Caesars brand was the natural choice for the casino.
“We are delighted to move forward with Caesars and expand our already successful portfolio. Not only is it a beautiful, recently renovated property, but Caesars is also a storied brand in the southern Indiana community. We’re honored carry on that legacy as we continue to elevate Caesars’ world-class guest experience.”
The Tribe keeping close ties with Caesars is also great news for the workers at Caesars Southern. The casino will be keeping its entire workforce in place, so there will be no layoffs during the transition.
The change in ownership will also be a smooth one for gamblers.
Keeping the Caesars brand means keeping the Caesars Rewards program. Regulars at the property won’t notice much of a difference during their trips.
The casino sale also checks an important box for Caesars in Indiana.
Caesars-Eldorado merger finally complete
The Caesars Southern sale was the final requirement leftover from Eldorado’s merger with Caesars.
The merger left the new Caesars Entertainment with the following casinos in Indiana:
- Indiana Grand
- Harrah’s Hoosier Park
- Horseshoe Hammond
- Tropicana Evansville
- Caesars Southern Indiana
The Indiana Gaming Commission (IGC) felt that was too many properties for one company to own. The IGC was worried about a potential monopoly, so it forced Caesars to sell three of its casinos in the state.
Every state that Caesars operates in had to sign off on the merger, and the casino selloffs became part of the IGC’s requirements before it gave its approval.
Caesars already sold off Tropicana Evansville, and planned on offloading Horseshoe Hammond as well. The IGC ended up reversing course on the Hammond sale after Caesars struggled to find a buyer.
With Tropicana and Caesars Southern changing hands, the company has finally met all of its requirements.
Indiana’s end of the merger is complete, and Caesars likely won’t be selling any more assets in the state anytime soon.