Casinos are filled with patrons who love to gamble and take risks and the owner of the Rising Sun Casino Resort in Indianapolis has decided to take a gamble and submit a proposal that many consider to be extremely optimistic.
The proposal put forth to Indianapolis city officials and Indiana legislature requests approval for shifting fifty percent of the Rising Sun Casino approved gaming tables to Marion County in exchange for building a luxury retail center that will include a casino near to the former Indianapolis International Airport terminal.
Full House Resorts, the Las Vegas casino operator who owns the Rising Sun Casino wants to shift around 700 approved gaming tables to the capital city in Indiana as the Full House Resorts believe there is a growing market in the capital city that could boost its revenue. The Las Vegas developer is hoping that its proposal to transform the razed airport terminal and unused parking lots into a luxury retail center would be enticing enough for Indianapolis city officials to make an extraordinary decision and allow a single casino license to be split in two.
Full House Resorts submitted a proposal to invest around $650 million to develop this new luxury retail center and believes that such an investment will provide numerous benefits to Indianapolis. One of the main reasons why Full House Resorts has put forward such a unique proposal is because the Rising Sun Casino Resort has suffered ever since two racinos were opened in 2013 in Ohio and Cincinnati opened its downtown casino. The Rising Sun Casino Resort revenue has dropped by nearly 75% and currently makes around $40 million per year.
Full House Resorts Dan Lee stated that by shifting half of the casino to Marion County, the casino would stand a better chance of diversifying its business and expanding its market in Indiana. However, in order to shift the casino to another county, state gaming laws would have to be amended and industry analysts believe that will not happen in the near future.
Indiana legislators have not been keen to increase gambling operations in Indianapolis as there are already two horsetracks and in-house casinos located near Indianapolis. The owner of these establishments, Centaur Gaming has not welcomed the proposal by Full House Resorts.
In a statement, a representative of Centaur Gaming said “It is ludicrous to believe the legislature would permit the holder of a gaming license to ‘divide up’ its license and operate from different locations, when a proposal to move one of the Gary riverboats was specifically rejected by the legislative study committee just last summer.”