Centaur Inc. Closes Deal on Finance Package For Gambling Additions

Over $1 billion in funds were secured by Centaur Inc. as the company closed on a deal for the money that will be spent on casino expansion in several different states.

The company plans to use some of the money to build a casino in Pennsylvania, actually, a harness racing track in Western Pennsylvania that will include a casino.

Hoosier Park in Anderson, Indiana will be where $400 million of the money will go as the company plans to build a 92,000 square foot addition to its already existing horse racing operation. The casino is said to have 2,000 slot machines going into the location.

Another place the company will use the money is at Indiana Downs, where they expect to do something similar to what they are planning in Anderson.

$250 million of the money will go to the state of Indiana for its licensing fees for the race track and casino.

The deal came together between Centaur Inc. and Credit Suisse, but was funded mostly by MH Equity, a private equity firm. How much stake the firm will have in the casinos is unknown.

Centaur Chairman Rod Ratcliff was excited about the deal getting done, saying in a news release, "Our success will mean more economic development in Indiana and more jobs for Hoosiers."

October 30, 2007
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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