Centaur, Hoosier File for Chapter 11
March 8, 2010
Parent company Centaur and Hoosier Park have elected to file for voluntary Chapter 11 bankruptcy in order to restructure debt and will continue operations at the Anderson casino and horse racing track uninterrupted, according to Hoosier Park officials.
Saddled with a $250 million licensing fee and dealing with a sour economy, Hoosier Park and Centaur officials had been working on debt restructuring plans for months. The bankruptcy filing will also apply to Fortune Valley Hotel & Casino in Colorado and Valley View Downs & Casino in Pennsylvania, both holdings of Centaur.
"Our casino, racing and hotel operations will continue without interruption, providing the same level of entertainment and service during the restructuring," Hoosier Park General Manager of Gaming Jim Brown said in a press release. |
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