The Indiana Gaming Commission (IGC) is creating a new rule in response to the fallout from the Spectacle Entertainment scandal.
The entire situation created massive problems for the new casino in Terre Haute. That has gaming officials looking to avoid similar problems in the future.
Rule change for casino projects
From now on, the IGC can require everyone involved in a casino project to apply for a Level 1 gaming license.
That basically requires those individuals to open the hood for the commission to look around. Especially when it comes to financial information.
Long story short, this new rule is due to the fallout from the Spectacle Entertainment scandal.
Problems from the scandal eventually trickled down into Terre Haute’s casino. Lucy Luck Gaming, one of Spectacle’s old subsidiaries was originally in charge of that project.
In a nutshell, the IGC tried to require all of Lucy Luck’s owners to apply for a Level 1 license. That involved submitting detailed financial background info to the state.
The hope was that poking through records would help avoid potential casino scandals in the future.
The minority owners of Lucy Luck didn’t see it that way. The group argued that they didn’t need to release the information since they were only investors in the company.
The owners went as far as suing the IGC to try and avoid the requirements. That led to months worth of friction and delays for Terre Haute’s casino.
This new rule should help avoid that situation in the future. Now that everything is official, there won’t be any discussion about what is and isn’t required of casino owners in the future.
Queen of Terre Haute progress
Terre Haute’s delays eventually ended with the IGC handing the casino project over to a different company.
The building was originally going to be a Hard Rock casino, the sister property to Hard Rock Casino Nothern Indiana in Gary. The casino’s branding and design switched after the project changed hands.
Churchill Downs is running the show these days. Things have been smooth sailing for the project ever since the company took over.
After years of delays, construction is finally underway on “Queen of Terre Haute” casino. If everything goes according to plan, the building should be open for business in late 2023.