Tropicana Evansville will be the first casino in Indiana to take advantage of a new law allowing the state’s 10 gambling riverboats to move on land near their current locations to help them compete with casinos in neighboring states.
The Ohio River operation will move to a site between its existing Tropicana Evansville and LeMerigot hotels. The $50 million venue will include a 75,000 square-foot casino, a new restaurant and bar and space for future expansion.
Tropicana says it expects construction to start in early 2016 and take at least 18 months, assuming final approvals from Evansville officials and the Indiana Gaming Commission.
The state hosts one land-based casino in French Lick in the south and two racetrack casinos near Indianapolis. The riverboats, however, have seen big declines in business and the loss of hundreds of jobs in recent years as more gambling options have become available in Ohio, Michigan and Illinois.
Evansville Mayor Lloyd Winnecke said he believes the new law puts the market on a “more level playing field” with competitors in other states.
“I suspect this will be first of several casinos around the state that will make the move to try to go on land,” he told The Associated Press.
As part of the agreement Tropicana will contribute $1 million toward moving a restored World War II troop landing ship from its current berth upriver from downtown Evansville to the site of the current riverboat, a move the city hopes will boost tourism in the downtown area. The ship, which took part in the 1944 D-Day landings in France, has been seeking a new location to attract more visitors.
Tropicana will also provide $25 million in pre-payments to the city, which Winnecke’s office said would be used for blight elimination and street improvements.
