It appears that the new casino being built for Terre Haute in Indiana will most likely be owned by Spectacle Jack LLC after the company has recently become the only entity to apply for a licence.
According to a local Tribune-Star newspaper report, applicants interested in running the proposed Vigo County facility had to apply an official licence application to the Indiana Gaming Commission and pay an attached fee of $50,000 in advance of a Sunday deadline.
Nevertheless, the regulator allegedly clarified that Spectacle is the only company to have reached this target date while its proposal demands approval to establish a $125 million business on 22 acres of land at one of the two junctions with Interstate 70 in Indiana City.
The newspaper explained that the plan of the operator calls for this 100,000 sq ft property to be christened the Rocksino by Hard Rock and features a casino and a sportsbook alongside a pair of restaurants, bars, a café and the 300-seat entertainment venue Velvet Lounge.
The Tribune-Star reported that Vigo County is set to acquire a casino after residents approved an enabling referendum early last month through a margin of around 63% to 37%. This allegedly followed the passage of new legislation in May to see local operator Spectacle Entertainment forfeit one of their outgoing Indiana riverboat casino licences to open a larger land-based gambling facility near Gary’s northern city.
The newspaper reported that Spectacle’s casino plan had already been accepted unanimously by the Commissioners ‘ three-member Vigo County Board and could now be signed off by the Indiana Gaming Commission as early as March. Such a move would supposedly require the operator to pay an opening fee of $5 million and commit it to pay an annual tax equivalent to 0.5% of the Rocksino by adjusted gross gaming receipts from Hard Rock.
In addition, the Indiana Gaming Commission will be entitled to 3% of any net income created by Hard Rock’s sportsbook inside the Rocksino, which it said could potentially hire up to 600 locals.