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Ind., Colo. casino owner files for bankruptcy
March 8, 2010
ANDERSON, Ind. (AP) -The company that owns Indiana's Hoosier Park casino and horse track and a Colorado casino has filed for Chapter 11 bankruptcy protection.
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 says it also will 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 the company has struggled to make debt payments.
In October, Centaur 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.
AP NEWS
The Associated Press News Service
Copyright 2012
The Associated Press
All Rights Reserved
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Mike Dempsey
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