Caesars Entertainment Corporation announced the Federal Trade Commission waived the waiting period mandated under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, moving Caesars’ purchase of Centaur Holdings a step closer.
Caesars announced on November 16, 2017 it would acquire Centaur for $1.7 billion in cash, including $1.625 billion at closing and $75 million in deferred consideration. As a result, Caesars will acquire Hoosier Park Racing and Casino in Anderson, Indiana, which offers Standardbred racing, and the Indiana Grand Racing and Casino in Shelbyville, which offers Thoroughbred racing.
Caesars President and Chief Executive Officer Mark Frissora said the purchase will benefit the company as it comes out of bankruptcy. “This important milestone brings us one step closer to completing this acquisition, which is part of our post-emergence, inorganic growth strategy. In addition to expanding our gaming footprint, Caesars Entertainment has a strong track record of operating gaming facilities with horse tracks as successful integrated operations, which benefit horsemen, local communities and the state at large. We are especially impressed by the racing operations at the Centaur properties and intend to import best practices from these properties to other Caesars Entertainment properties with racing operations.”
The transaction still must be approved by the Indiana Gaming and Horse Racing Commission. Caesars officials expect the deal to be completed in by July.
