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Lucky Luck Gaming: Stakeholders surprised by how they lost the license!

On June 24th the verdict of the Indiana Gaming Commission to not let the Terre Haute company renew their gaming license to operate a casino by the name Lucky Luck Gaming on the eastern side of the city shocked the stakeholders involved in the project. The plans of the people involved to extend and attract more visitors and to integrate new activities while creating an expansion plan were put to a halt by this decision.

Lucky Luck Gaming
Casino – A dream?

The decision was a bolt out of the blue and the reasons for it were not many but two. The foremost reason was that the executive team was not there and the facility would not be run without them and secondly the source of financing had deficiencies and was not fully evaluated.

Greg Gibson the Terre Haute businessman was in the pursuit of a financial plan and the license but after the licensee was denied there was no further proceeding on the financial plan.

Sarah Tait, the executive of the commission responsible for the verdict said, “General practice … is that a company is fully established and vetted prior to licensure,” In reply to this the attorney of Terre Haute emphasized how the casino will have a similar structure like the other casinos operating in the vicinity.

There is an option of reapplication for the license and the gaming commission had reopened the application process for a Vigo County gaming license a week prior to this verdict.

Duke Bennet the Mayor of Vigo County gave a supporting statement for the Terre Haute company and said a local in Gibson should be given the license for his work for the local community rather than an outsider. He was not too fond of the idea of seeing outsiders run a casino in the area and said “Greg would continue to use some of the revenues he receives off of that [casino] to invest back in the community in other ways, too,” and further added “and I don’t know if we will get that from an outside owner.”

Despite all this, the optimism of the Mayor of Vigo County regarding a Casino project to be part of the Vigo County was a welcoming sign for the Casino lovers of the area. He also expressed his disappointment with the decision of the gaming commission.

They contradict with Gibson stated that in the first year $3.6 million were to be used for improvement projects in the area and there would be a tax revenue of an estimated $6.5 million in the first year alone.

The positive sign is the support from the chamber of commerce who appreciate the efforts of Lucy Luck Gaming.

There is a big pressure from the locals and the mayor on Gibson to reapply for the Lucky Luck Gaming casino but in the end, it will be his decision and he has stated that “…..we may reapply, but I’m not sure if we will.”

 

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