Indiana Gaming Commission Rejects Lucy Luck Settlement Proposal

Slot Machines on Right Casino Cards Dice and Chips on A Table on Left
The Indiana Gaming Commission rejected on Monday a settlement proposal offered by Lucy Luck Gaming to renew its gaming license in Vigo County.

Lucy Luck submitted the offer after the IGC denied the renewal of its Vigo gaming license last June, thereby forfeiting the award of the Vigo casino license to the Terre-Haute based company.

Luck Luck Offered to Dilute Greg Gibson

In the settlement offer submitted to the IGC last November 4, Lucy Luck said that the structure approved by the IGC for the Hard Rock Casino in Northern Gary “provides a fair and reasonable framework for resolving its appeal regarding the Vigo County license.”

Lucy Luck asked the commission to reconsider renewing its license by offering to dilute Terry Haute businessman Gary Gibson’s share in the company down to a percentage “redacted in the IGC’s online filing”.

Additionally, Lucy Luck said it was open to having an experienced company such as Hard Rock International hold the balance of equity in its company with that gaming company proceeding to develop and operate the Vigo County Casino.

IGC Declares Lucy Luck Ineligible for License Renewal

Last June, the IGC declared that Lucy Luck was ineligible for a casino license renewal after an “extensive review and considering all statutory and regulatory qualifications for renewal”. It also noted that the company’s executive team had not been established while also expressing concern about the incompleteness of its financing. Lucy Luck made an appeal and a judge issued a stay order for the matter.

With the appeal rejected, th next move wold be for the IGC To draft a counterproposal settlement where Lucy Luck’s initial application fee is expected to be reimbursed and its appeal dropped.

The proposals currently on the table are from Churchill Downs Inc, Full House Resorts Inc, Terre Haute Entertainment, and Hard Rock International.

In the weeks since the IGC announced the four proposals, Hard Rock has gotten the support of officials and elected leaders in the county. The IGC previously announced that it intends to announce the winning bid this week.