Churchill Downs Incorporated granted Indiana casino license

New York-listed Churchill Downs Incorporated has been granted a license by the Indiana Gaming Commission (IGC) to develop a new land-based casino resort in Indiana.

The new 400,000 square foot Queen of Terre Haute Casino Resort will see Churchill Downs invest $240m, with the casino featuring 1,000 slot machines, 50 table games, and a TwinSpires-branded sportsbook.

The IGC unanimously voted to grant the sole Certificate of Suitability following a proposal process that included applications from three other bidders, comprising Full House Resorts, Hard Rock Casino, and Premier Gaming Group and Terre Haute Entertainment Holdings.

“We are thrilled for this opportunity and honored for the trust that the Indiana Gaming Commission has placed in CDI and our plan to bring a true destination casino resort to West Central Indiana,” said CDI chief executive Bill Carstanjen.

Churchill Downs Incorporated senior vice president of corporate development Jason Sauer added: “In the days ahead, we look forward to continuing our collaboration with local officials in Vigo County and the Indiana Gaming Commission as we work to turn our vision for the Queen of Terre Haute into a reality.”

Shares in Churchill Downs Inc (NASDAQ:CHDN) closed 0.76 per cent higher at $239.30 per share in New York Thursday.