Indiana Gaming Commission Denies Settlement Offer For Terre Haute Casino License

Today, the Indiana Gaming Commission (IGC) unanimously rejected the settlement offer from Lucy Luck Gaming to regain the Terre Haute casino license.

Originally, Lucy Luck held the casino license, however, in June, the IGC removed the company from the project.

The decision is set to be announced ahead of the commission’s meeting on Nov. 17, where they will reveal the company awarded the rights to construct a casino in Vigo County.

How Lucy Luck Gaming’s license was revoked

In 2019, Lucy Luck secured the rights to construct a casino in Terre Haute, but the company was notably slow-paced in progressing with the project.

In fact, so much time had passed that the company was required to renew the license before they could even start construction on the casino.

The IGC determined that Greg Gibson, Lucy Luck’s owner, was not progressing swiftly enough.

Earlier this summer, the commission denied Lucy Luck’s license renewal request.

Even after possessing the license for over a year and a half, Lucy Luck had yet to assemble an executive management team to oversee the property. The IGC viewed this as an intolerable lack of advancement for a project that had already encountered numerous setbacks.

Lucy Luck Gaming will not adhere to IGC.

Lucy Luck has made an appeal to attempt to recover her license. The appeal process is still underway, however, the company has proposed a settlement to the IGC in an effort to resolve the situation.

The aim of the settlement offer revolved around three primary objectives:

1. Request the IGC to renew Lucy Luck’s casino license.
2. Reduce Greg Gibson’s ownership stake in Lucy Luck.
3. Ensure that Hard Rock gains controlling interest in Lucy Luck within a 90-day period.

At today’s meeting, the IGC voted to reject the settlement offer.

Greg Small, the Executive Director of IGC, spoke candidly about Lucy Luck’s efforts to rectify the issues that initially led to the company’s loss of the casino license.

Small states that Lucy Luck has not adhered to any of the requests made by the IGC earlier this year.

Lucy Luck has not yet addressed the shortcomings that resulted in the non-renewal order issued in June. In fact, her situation has further deteriorated, particularly in terms of corporate staffing. As a license holder, it is her responsibility to ensure compliance with commission statutes and regulations. The regulatory agency is not obliged to constantly inquire about the licensees’ actions to adhere to commission rules.

To put it differently, the IGC is tired of constantly confronting Lucy Luck about the situation.

Small stated that the company has had “little to no contact” since losing the casino license in June.

The gaming commission refused to accept Lucy Luck’s settlement offer without any effort made by the company to rectify the situation.

The final decision for the casino in Terre Haute, which is big news, will be made on Nov. 17.

Increased competition for Terre Haute casino

In 2019, Lucy Luck was the sole company to apply for a casino license in Terre Haute. However, the second round of bidding saw a significant increase in interest.

Three other companies are competing to construct the city’s casino.

• CDITH, LLC (Churchill Downs)
• Full House Resorts, Inc. (FHR-Atlas LLC)
• Premier Gaming Group, LLC (Terre Haute Entertainment)

Every company has unique plans for the casino that would differentiate Terre Haute’s property.

Hard Rock International is linked to Lucy Luck’s casino plans.

Lucy Luck is set to manage the daily operations of a Hard Rock Casino that is planned to be built in Terre Haute by the two companies.

This would serve as a sister property to the Hard Rock Casino Northern Indiana, which began operations in Gary earlier this year.

This time around, the competition is stiffer, but Hard Rock and Lucy Luck possess a significant advantage that their rivals lack.

Lucy Luck’s bid to construct the casino is being backed by officials in Terre Haute, primarily due to the company’s connections to the area.

Greg Gibson, a businessman from Terre Haute, owns Lucy Luck. Therefore, if the company wins the bid, everything would remain local for the city.

In other words, if Gibson still has any interest in being involved in the project.

Lucy Luck’s settlement offer proposed that Gibson’s company ownership should be transferred to Hard Rock.

The casino in Vigo County was expected to be open by now. However, we are still unsure about the company that will take charge.

A new casino is arriving in Terre Haute, the only question is which company will be in control. Whether Lucy Luck or another competitor takes the reins, Terre Haute residents will finally get some clarity after the IGC’s meeting this Wednesday.