Las Vegas Sun

March 28, 2024

Indiana regulators weigh casino proposals

FRENCH LICK, Ind. -- Indiana roots and star power were emphasized Monday by casino executives competing for the contract to bring gambling -- and hope -- back to this struggling community.

In a ballroom filled with about 300 people, the Indiana Gaming Commission began two days of hearings on proposals for the Orange County casino at the French Lick Springs Resort & Spa.

"We're just as excited as we can be," said resident Mary Gilliatt, 76, who lobbied for 10 years to bring the casino to the county.

Three groups are vying for the license. Orange County Development includes former NBA star Larry Bird; Trump Hotels & Casino Resorts Inc. has the backing of billionaire Donald Trump; and Lost River Development consists of an Indianapolis real estate firm and a Chicago gaming operator.

All three groups have vowed to bring much-needed jobs to the community an hour northwest of Louisville, Ky., where high-rolling movie stars vacationed before the 1929 stock market crash.

Gregory Gurnik, president of Lauth Property Group in Indianapolis, a principal in Lost River Development, said his group has reached an agreement to buy the West Baden Springs Hotel if it receives the casino contract. Lost River would spend $65 million to purchase the hotel from the Cook Group of Bloomington and renovate the landmark.

"The key thing is we share a mutual vision for an incredibly important asset in this community," Gurnick said of Cook and Lost River.

As they outlined their proposal, which includes a movie theater, bowling alley and retail development area, Lost River officials stressed their Indiana ties.

"I won't be going home to New York or Nevada," said Bob Lauth, chairman and CEO of Lauth Property Group. "I'm at home. Indiana's been my home my entire life."

Jill Leone, who represents Bird, said the former Indiana State star has those ties, too.

"When you say Larry Bird's name, it connotes a very positive response. People expect the people that he's involved with, as well as himself, to work hard, bring integrity to a project and stick to your word and reach your goals," she said.

Bird, a Boston Celtics legend, who is now president of the Indiana Pacers, was out of town on Pacers business and unable to attend.

Leone said any money Bird makes in his partnership will go to a foundation he expects will generate $10.46 million for Orange County in 10 years. The group's proposal includes a museum featuring his basketball memorabilia, and he has promised to host an annual celebrity golf tournament in Orange County.

Trump's proposal includes a deli, a buffet and an entertainment lounge. Trump has the added draw of Indiana golfer Fuzzy Zoeller, who has said he would partner with Trump.

Trump and Zoeller, who did not attend Monday, appeared in a video touting their proposal.

"He does it first class, and that's what the people of Orange County deserve," Zoeller said of Trump.

Presenters from Trump's group emphasized he has the star power to bring in celebrities and has a proven record of creating casinos where everyone feels like a high-roller.

Trump Hotels & Casino Resorts Inc. lost $87 million last year, but Scott Butera, Trump casino's director of corporate and strategic development, said the company is going through a recapitalization plan and should "have a balance sheet as strong as anybody in the business" by fall.

"It will be a tremendous success. We're going to create a vacation resort like no other," Trump said. "When it's done and said, we'll have created a world class resort and everybody, including me, will be very proud."

The casino will be the 11th and final one built in Indiana under current law.

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