![]() ![]() Indianapolis Downs does not have enough money to fund operations for the next year because of heavy debt payments and other obligations, according to the documents. Yet despite the performance of the new gambling operation, the casino’s parent is struggling. The casino saw its slots revenue reach $211 million last year, its first full year of operations, up from $92 million in 2008, according to financial statements submitted to the Indiana Horse Racing Commission. That’s on the high end of the industry range, according to one analyst. Indiana Live!, adjacent to Indiana Downs racetrack, about 30 miles south of Indianapolis, is the only casino to be both developed and managed by The Cordish Cos.įrom January to September, according to monthly revenue reports from the Indiana Gaming Commission, the Cordish casino has been averaging daily revenue of about $338 per machine. ![]() Brown did not specify the cause of the arbitration and declined to comment further.Īfter developing two successful Hard Rock Hotel and Casino complexes for the Seminole tribe of Florida, Cordish has sought to expand into gambling management in recent years. Brown, an attorney for Indianapolis Downs, said an arbitration proceeding is pending between the company and an affiliate of Cordish Cos. Baltimore Sun eNewspaper Home Page Close Menuĭouglas R. ![]()
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