Hoosier Park and Casino’s owners have filed for Chapter 11 bankruptcy protection in order to reorganize their finances.
Centaur LLC says normal operations will continue at Hoosier Park in Anderson and Fortune Valley Hotel & Casino in Central City, Colo., despite Sunday’s filing. The Indianapolis-based company said it would also continue work on its Valley View Downs & Casino projects near New Castle, Pa.
Hoosier Park general manager Jim Brown says Centaur’s casinos are healthy businesses, but it has struggled to make debt payments.
Centaur last October missed a $13.4 million payment due on more than $400 million in debt. The company borrowed heavily to pay for a $250 million state license fee and $150 million in upgrades to open the Hoosier Park casino in 2008.
A wastewater treatment plant in Tipton County has been completed despite a year’s worth of delays.
Randolph County residents are not happy about rumors of a carbon dioxide sequestration facility in their area.
A look at the ups and downs of corporate tax breaks.
Stimulus funds are speeding work at the Terre Haute International Airport.