In Indiana, the Vigo County board of commissioners recently approved a local development agreement with Hard Rock, going by the name HR Terre Haute LLC, as the developer of a casino in Terre Haute.
The Indiana Gaming Commission requires the agreement, which spells out that if HR Terre Haute is selected as the county’s casino operator, it would pay the city 3 percent of adjusted gross receipts from the casino and 3 percent of the casino operator’s net commission received sports betting.
Commissioner Chris Switzer said the agreement “means if on November 17 that Hard Rock happens to get selected, they could go forward November 18, if they want to, with a groundbreaking, because we have done everything we are supposed to do as a county to make sure things are ready to roll for them.” He added, “If it is not Hard Rock, we are certainly ready and willing to work with any casino operator that is selected.”
None of the three other casino operators vying for the Vigo County casino license has sought an LDA, Switzer said. They are Churchill Downs Inc., Full House Resorts Inc. and Terre Haute Entertainment LLC.
Commission President Mike Morris said the Hard Rock agreement “would generate about $4.6 million to the city if the casino is located within city limits, so that is very important to them.” Also, a supplemental wagering tax, formerly called an admission tax, would generate an estimated $2.6 million.
Morris explained under the agreement, 40 percent of those revenues, or $1 million, would go to the city of Terre Haute; 30 percent, or $780,000, to Vigo County; 15 percent, or $300,000, to the Vigo County School Corp.; and 15 percent, or $390,000, to the regional economic development agency West Central 2025.
Another $2.7 million to $3 million would go to the nonprofit Vigo County Community Improvement Foundation Inc. which would distribute the funds to local organizations which seek funding assistance.
The $190 million Hard Rock project will create 2,058 construction jobs and 675 permanent jobs, and generate $148 million in new net economic activity, commissioners said.
Switzer pointed out, “At the end of the day, the Indiana Gaming Commission will make that selection and it has nothing to do with us. We can throw our support where we want, but it is up to the Indiana Gaming Commission.”
