Indiana Charges Investors $5 Million For Casino License

Want to open a casino in Indiana? It will cost you in the short term. New details have emerged on the startup cost to open the new casino in Terre Huate, IN.

Spectacle Jack LLC filed the only application for a Vigo County casino as of today’s deadline, according to the Indiana Gaming Commission.

Applying for the license requires a $50,000 fee, and the successful applicant would pay the commission a $5 million license fee. The state has set a $100 million minimum investment on the part of the operator.

The agreement calls for Spectacle to pay about $3 million based on $100 million adjusted gross receipts. Additionally, the proposed agreement calls for a payment equal to 3 percent of the company’s net commission received from any sports wagering vendor.

The proposed $125 million casino that would be located on 22 acres south of Walmart East next to Holiday Inn Express in Terre Haute.

Source: Indiana Economic Digest & Tribune Star

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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