Indianapolis Downs LLC, the casino’s parent company, found themselves in bankruptcy court a year ago with over a half-billion dollars in debts. This included a $250 million fee paid to the Indiana Gaming Commission for a license to add slot machines to the Shelbyville horse racing track.
After a year of court battles, it is likely that the casino will be sold.
Industry insiders say that while horse racing tracks and gambling “racinos” can be very profitable, the recession, combined with fees such as the $250 million one mentioned previously, can be financially draining.
The casino was also recently fined $156,500 for infractions of gambling and alcohol rules.