Hard Rock approves spectacle entertainment in land deal, $300M Gary, Indiana casino is a ‘go’

Hard Rock issued a statement to Casino.com ORG on Monday, stating that its compliance committee found “no inconsistency on the part of the show” about the property agreement on the ground for a casino planned for the Frank Borman Highway. ” Location is about five miles from Lake Michigan Harbor, home of two Majestic Star riverboats, currently owned by Spectral Entertainment.

On September 5, Hard Rock announced that the compliance committee would perform properly after a series of Times of Northwest Indiana articles for minor concerns about various properties purchased at the Lake County tax sale.

Auctions allow the county to sell the land when homeowners do not pay property taxes. In at least one case, a person bought a property in a tax sale confiscated from his father, who wanted to sell the land by spectrum.

‘Everything is a Go’

On August 28, the Indiana Gaming Commission (IGC) approved Spectral’s plan to relocate its casino from two riverboats and build a 225,000-square-foot casino that operates Hard Rock. In addition, the venue will include a concert hall with 2,000 seats.

The second phase of the project will include a 200-room hotel.

Hard Rock Casino should employ approximately 1,700, with an increase of approximately 750 from the current workforce in Major Star Boats. The hotel project will add 200 more jobs.

At the IGC meeting, Spectrum Vice President and General Counsel John Keller said his company and Hard Rock International had signed a letter of intent, with plans to formally sign a partnership agreement in mid-September.

However, before that, Hard Rock brought its compliance committee to review the project.
Casinos and concert halls may be ready by the end of 2020. No announcement has been made as to when construction will begin.

Financial state

The IGC approval depends on Spectrum, which pays a transfer fee of $ 20 million in five annual installments of $ 4 million.
Tamasha also agreed to return the second Royal Star license to the state, marking it for another land casino in Terre-Hoot.

Gary will also receive income from a planned Terre Haute casino if Spectacle and Hard Rock win a license for that place. Vigo County voters will go to the polls next week in a referendum to decide if they want a casino in central Indiana, near the Illinois border.

If the referendum is approved, IGC will accept the December 1 offer for the casino.

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