Officials at Las Vegas-based Full House Resorts reintroduced a proposal to relocate 750 gaming equipment that’s been authorized but has not been used to a “supplemental location” in Terre Haute, Indiana. Full House presented a similar plan to Indiana legislators in 2017 but it failed to progress due to concern the proposal unfairly favored one casino operator.
This year, Full House’ proposed legislation would allow other casino operators to compete for a Terre Haute casino, without eliminating jobs or abandoning investments made in their original home communities.
The 2017 legislation would have allowed Full House’s Rising Star Casino in Rising Sun to move 750 unused gaming positions to Terre Haute.
Rising Star draws customers from Indianapolis, Cincinnati, Lexington and Louisville. Full House Chief Executive Officer Dan Lee said, “We continue to invest millions of dollars in Rising Sun, but the expansion of gaming in neighboring states has ensured that many of our authorized games will never be needed in that market. Rather than close and move the Rising Star Casino Resort, we would prefer to compete for the opportunity by relocating our unused games to a new facility in Terre Haute. We believe that creates a win-win for Rising Sun, Terre Haute and all of Indiana.” Lee added the state is losing “millions” in tax revenue since every Indiana casino operator is using fewer gaming devices than current law allows.
Full House Chief Development Officer Alex Stolyar said Terre Haute city, county and business leaders support the proposed casino expansion. “We have seen the recent reports that the new Majestic Star casino owners”—Spectacle Entertainment, a new company including Terre Haute businessman Greg Gibson—”intend to pursue legislation to move their gaming assets from a single integrated casino in Buffington Harbor to two new locations, potentially including Terre Haute. Their proposal supports our thesis that Terre Haute is a prime location to allocate the state’s unused gaming resources to maximize benefit for Indiana. We look forward to an opportunity to compete with all interested operators to present the best proposal for Terre Haute and for Indiana,” Stolyar said.
According to state regulators, Indiana casino revenue fell 2.5 percent, to $176.2 million—lower than $200 million in November for the sixth straight year. Rising Star posted the lowest out of the state’s 14 casinos at $3.98 million.
Regarding moving unused equipment to a new Terre Haute facility, Ed Feigenbaum, editor of Indiana Gaming Insight, said “There are a lot of moving parts to come together for that to happen. It’s going to be an extremely heavy lift.” Feigenbaum said Rising Star now competes with Ohio casinos, Northwest Indiana casinos continue to lose business to video gaming machines in Illinois locations that, he said, “have proven to be insidious” and a new Native American casino recently opened in South Bend. “Things are not looking up” for Indiana gaming, Feigenbaum commented.
Indiana is not the only state to consider satellite casinos. Pennsylvania passed a gambling expansion measure in 2017 allowing each of that state’s 12 casinos to buy permits for up to 10 “mini casinos” with 750 slot machines, 30 to 40 table games and sports betting. Five such locations are expected to begin operating in 2019.
