INDIANAPOLIS — The Indiana Horse Racing Commission has given Indianapolis-based Centaur Holdings LLC, which owns Anderson’s Hoosier Park Racing & Casino, a conditional go-ahead to take over Shelbyville’s Indiana Grand Casino and Downs.
During a public hearing at the Indiana State Library on Friday, the Commission unanimously approved the transfer of permits and licenses from the bankrupt Indianapolis Downs LLC. That’s provided Centaur fulfills a list of conditions, including adding 300 horse stalls over two years.
The Commission would also have final approval.
The ruling “places Centaur one step closer to completing the acquisition of Indiana Grand Casino and Downs,” Centaur CEO and chairman Rod Ratcliff said.
In September, a Delaware bankruptcy court judge approved a deal allowing Centaur to buy the racino for about $500 million and take over its liabilities.
The Commission voted after hearing more than six hours of testimony overwhelmingly in support of combining the tracks under the same banner.
It concluded the transfer was “in the best interest of racing and the state,” said Bill Diener, chairman of the Commission.
Much of the testimony centered on Centaur’s “one breed, one track” mantra. Centaur wants to run thoroughbred and quarter horses at Indiana Downs, leaving standardbreds for Hoosier Park. The parks have run both in the past, and suffered the hassle and costs of converting the tracks back and forth for each breed.
Centaur would also voluntarily seek accreditation from the National Thoroughbred Racing Association, which would require pre-race testing, more safety components on the inside rail and additional on-track emergency vehicles, said Grant Scharton, director of public relations for Hoosier Park.
Centaur also needs the approval of the Indiana Gaming Commission.
“We are looking forward to our continued work with the Indiana Gaming Commission and state and federal regulators in the completion of the approval process,” Ratcliff said.
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