Hard Rock International Chief Operating Officer Jon Lucas recently announced the new $300 million land-based Hard Rock Northern Indiana will open to the public on May 14, following a Friends and Family event on May 11 and a VIP opening on May 13. Spectacle Entertainment currently operates Majestic Star Casinos in Gary, which will close once the new Hard Rock casino opens. Hard Rock and Spectacle are partners in the Gary project as well as the new Lady Luck casino under construction in Terre Haute. Greg Gibson, vice chairman of Spectacle Entertainment, said its Gary and Terre Haute projects have a total value of half a billion dollars.
Just a few weeks ago it seemed possible the new Gary casino might sit empty for months as former Spectacle Chief Executive Officer Rod Ratcliff fought to retain his ownership share of the company, even though the Indiana Gaming Commission ordered him to divest his Spectacle shares following an investigation into campaign finance violations. The commission said those and other misdeeds were enough to order Ratcliff to permanently relinquish his Indiana gaming license.
The gaming commission also approved a $530,000 settlement with Spectacle Entertainment for the 53 days it took between the commission’s divestment order and Ratcliff selling his shares, primarily to Spectacle Vice Chairman Greg Gibson. IGC Executive Director Sara Tait said, “Never has a casino licensee failed to comply with an IGC order for more than 50 days.” Tait said she felt it was necessary to follow strict regulations to maintain the integrity of Indiana gaming.
The IGC had filed a complaint with Lake Superior Court in February to permanently revoke Ratcliff’s Indiana gaming license, citing numerous examples of alleged wrongdoing, including being part of a scheme to funnel corporate campaign funds to an Indiana candidate for Congress, taking company money to fund his personal horse racing betting account without reporting it and obstructing justice. The situation nearly postponed the opening of the new Hard Rock Gary.
IGC General Counsel Greg Small said the other parties involved in the casino are in good standing. He noted ratifying the orders calling for Ratcliff’s divestiture “allows this very important economic development project to move forward.” According to Jon Lucas, chief operating officer of Hard Rock International, “all the speed bumps” regarding Ratcliff are in the past.
Tait said the transition from boat to land casino in Gary is important for the city of Gary and its residents. Gary Mayor Jerome Prince said the Gary casino alone generated $52 million in construction contracts awarded to Lake County companies, $32 million of which went to Gary contractors. It also is providing 400 to 600 new jobs.
The 200,000-square-foot venue will offer1,637 slot machines, 80 table games, a sportsbook, five restaurants including a Hard Rock Cafe, multiple bars and lounges, a 1,954-capacity Hard Rock Live entertainment venue and plenty of music memorabilia.
Spectacle Vice Chairman Greg Gibson stated he’s “very optimistic about the future and moving forward in partnership” with Hard Rock. “Projects like these don’t come along often and we’re ready to show how Indiana investors and an international corporate brand can collaborate to bring these fantastic facilities to the state of Indiana. We have certainly had our ups and downs. Things seem to jump between crisis and celebration. Today is a time for celebration.”
