Hoosier Park Centaur Files Chapter 11

[Speedy99]

This Casino or Racino has an average monthly Coin in of over 200 mil and a Win of 16 mil and still cannot make it, Taxes and fees they pay are to blame they say.

Sounds like a lot of money to me for a shop with all slots all electronic no live dealers,

http://www.ibj.com/articles/18555-hoosier-park-owner-seeks-to-reorganize-680m-in-debt

http://www.in.gov/igc/files/2010-02-Revenue.htm

 

[creeping panther]

Taxes

This Casino or Racino has an average monthly Coin in of over 200 mil and a Win of 16 mil and still cannot make it, Taxes and fees they pay are to blame they say.

Sounds like a lot of money to me for a shop with all slots all electronic no live dealers,

http://www.ibj.com/articles/18555-hoosier-park-owner-seeks-to-reorganize-680m-in-debt

http://www.in.gov/igc/files/2010-02-Revenue.htm

Tribal casinos are not loaded down with state and Federal taxes or excess regulations to jump through, in fact I know of some that pay no taxes at all.

CP

 

[Machinist]

I believe they bought a casino in Colorado. Proba bly paid to much with this economy. Sounds like typical bad business practices to me!!!
Or maybe the management got inside advice from Obama and crew how to run a business.
:whip::whip:

Machinist

 

[Speedy99]

One in Colorado and I think they had a deal in Pennsylvania that they filed on last year also, just hard to understand how a business with 16 million in cash flow a month can be hurting.......:whip:

 

[MountainMan]

PA Casino

The PA casino never got off the ground. The financial meltdown of 2008 caused them to lose their financial partner and miss the deadline to break ground on the new casino. I believe they purchased the property and probably sunk a lot of cash into it with zero return.