Indiana Casino License Approval for Next Casino
Only one company has come forward to apply for Indiana’s next casino. Spectacle Jack LLC was the only company that came forward and submitted an application to own the next casino in Indiana. The Indiana casino license recipient will operate a land-based casino in Vigo County. The successful applicant will be required to pay a license fee of $5 million the commission. Indiana’s new casino is situated in Vigo County and it is worth $125 million.
Also, a $50,000 fee is required for applying for the license. On the part of the operator, the state has set a $100 million minimum investment. Possibly in the first quarter of 2020, the Gaming Commission expects to review the application. The review will be based on a number of factors including the applicant’s history of community involvement, economic benefits as well as financial stability of the applicant to list a few.
Casino License Plans
Spectacle Jack LLC has indicated that they would seek the assistance of Hard Rock. The company will pay close to $3 million. This is based on a $100 million adjusted gross receipts. Parts of Spectacle’s plans for the new casino is to employ over 600 people. The company will name the casino “Rocksino by Hard Rock,” situated on 100,000 square feet. The Rocksino will feature a steak house, a buffet, a 300-seat entertainment theatre, sports betting as well as other interesting features.
Spectacle off to a good start
The Vigo County Board of Commissioners approved a local agreement between the county and Spectacle on Monday. Spectacle will have to pay 3 percent of the casino’s adjusted gross receipts. This will also include 3 percent of the net commission the company receives from sports betting app or sportsbook tied to the casino.