Eastern Band of Cherokee Indians May Buy Caesars Southern Indiana

This week the Eastern Band of Cherokee Indians voiced interest in purchasing Caesars Southern Indiana from Caesars Entertainment Inc. for an undisclosed amount.

Without a doubt, the property will come with a hefty price tag, as Caesars renovated the property in 2018 for $90 million. The location has 1,650 slots, table games, and a fairly recently launched sportsbook across its 110,000 square feet of gaming space. The casino previously operated as a riverboat casino, but laws changed in 2015 to allow for adjacent betting locations.

The two groups are entering a period of due diligence after the letter of intent, which will see the two working exclusively for 45 days to come to a purchase agreement.

For the tribe, the purchase would lend a cash flow business to the group's assets, which would then be returned to the tribe in the form of profits.

While a deal will likely not be announced before the end of the year, we'll make sure to update readers as we learn more about the inner-workings of this process.