Clairvest Group has announced the closing of the sale of Centaur Holdings to a subsidiary of Caesars Entertainment Corporation.
The purchase price was US$1.7bn, US$1.625bn of which is due at closing and US$75 million of deferred consideration. Centaur Gaming is the owner and operator of the Hoosier Park Racing and Casino in Anderson, Indiana, US, and the Indiana Grand Racing and Casino in Shelbyville, Indiana.
Clairvest made its initial investment in 2010 through the purchase of debt securities in Hoosier Park’s parent corporation at the time. Later, the company was restructured and completed the acquisition of Indiana Grand in 2013.
Through the acquisition of Indiana Grand, synergies of owning both properties, organic growth and positive regulatory changes, Centaur’s EBITDA grew by over three times to create one of the most sought-after gaming assets in North America.
