Owners of Majestic Star Casino in Gary, Indiana are researching sites to build a land-based casino that would replace its two aging riverboats docked at Buffington Harbor. Last year the state legislature passed a law allowing casinos to move ashore to land contiguous to their docks. Majestic Star said it would invest -5 million in the new facility, depending on the chosen location.
Majestic Star Senior Vice President and General Manager Barry Cregan said, “We will determine which of the potential sites within our campus footprint can physically support the future construction, deliver the best guest experience and provide the greatest return on investment.”
Majestic Star, Tropicana Casino in Evansville and Rising Star Casino in Lawrenceburg all lobbied for land-based casinos during last year’s legislative session. Majestic Star officials said the move was necessary from a competitive standpoint, and that the company loses business when the riverboats have to close due to severe weather. Also, they said a single-floor, land-based facility would be located closer to parking and therefore offer more convenience for guests. Opened in 1996 and 1997, Majestic Star’s two riverboats, which offer a combined 78,020 square feet of gaming space, are about at the end of their useful life, officials noted. They generated $160 million in gaming revenue with nearly 2 million visitors in fiscal 2015, according to the Indiana Gaming Commission’s annual report.
Earlier this year, the city of Evansville agreed to a new lease arrangement with Tropicana Casino, and its $50 million, 75,000 square foot casino, to be completed in mid-2017, will be located on land between its two hotels next to the Ohio River. Tropicana’s existing riverboat casino offers 38,000 square feet of gaming space and generated $120 million in gaming revenue with about 1.2 million admissions in fiscal 2015, according to the Indiana Gaming Commission figures.
Ameristar Casinos, owner of Ameristar Casino & Hotel in East Chicago, protested Majestic Star’s move to land during testimony before a legislative study committee in 2014. Ameristar officials claimed the change would upset a market that already was unstable.
