INDIANAPOLIS — Indiana will open bidding for a new casino license in the state’s northeast region after lawmakers narrowly approved legislation that was later signed into law by Gov. Mike Braun.
The measure authorizes a single casino license for Allen, DeKalb or Steuben counties by converting an unused horse racing license, keeping the state’s total number of gaming licenses unchanged. The Indiana Gaming Commission will oversee the competitive process, with applications due by Tuesday, Dec. 1 and a decision to follow after review.
Developers seeking the license must meet steep financial requirements, including a $150 million application fee and a $500 million investment in construction and development within five years. The total project cost is estimated at $650 million, a price point that could limit the number of bidders despite expectations of multiple interested companies…