New Caesars Southern Indiana Owners Pledge To Retain Entire Workforce
All employees will stay put if the Eastern Band of Cherokee Indians closes on its Caesars Southern Indiana sale. That’s according to the latest word from the prospective buyers of the property.
Additionally, the potential new owners intend to maintain the status quo in a number of other ways that would affect patrons of the facility. The pledges could lend toward an easier and faster approval of the transaction.
The latest on the Caesars Southern Indiana sale
Caesars and Eldorado Resorts set the wheels in motion for this ownership change late in 2019 when the companies merged.
In order to pass antitrust scrutiny, the Indiana Gaming Commission (IGC) required Caesars to sell off three of its properties in the state. Caesars was left to choose which three, however.
Caesars Southern in Elizabeth is one of the three that the company chose to sell. Horseshoe Hammond and Tropicana Evansville are also on the chopping block.
Last December, Caesars announced it reached an agreement with the Eastern Band of Cherokee Indians to purchase Caesars Southern Indiana. Assuming the IGC approves, the change in ownership could prove minimally intrusive.
The tribe has pledged to do the following in the interest of continuity:
- Continue to offer Caesars Rewards program to guests.
- Keep the casino’s current general manager, Brad Siegel, in the same position.
- Retain the casino’s entire workforce, over 700 people.
When the transaction will close and what could that mean for casino patrons is still up in the air. However, this recent pledge may move things along quickly and seamlessly.
Ownership change could happen this year
The holding company the tribe created for its interests in Indiana said it expects the commission to approve the transaction this fall.
That is one of the final regulatory steps, and could point toward a complete closure of sale before 2021 ends.
On top of the pledge to keep the staff in place, the IGC is likely to approve the deal because of the tribe’s experience running casinos. The Eastern Band of Cherokee Indians operates multiple casinos in North Carolina and is exploring a potential facility in Virginia.
The tribe’s casinos have fared well. That’s allowed the tribe to branch out into other markets like Indiana and Virginia. The tribe also recently purchased acreage in Tennessee. However, casino gaming remains illegal there.
All signs point toward the Caesars Southern Indiana sale closing late this year. If the new owners stick to their word, everyone who currently has a job at the casino should keep that gig.