Indianapolis Downs Heads To Ch. 11 Stables

Law360, New York (April 7, 2011, 1:14 PM EDT) -- Operationally profitable casino and racetrack operator Indianapolis Downs LLC filed for Chapter 11 bankruptcy protection Thursday, saying it was using the process as a stepping stone to get out from under some of its major startup costs.

In a filing with the U.S. Bankruptcy Court for the District of Delaware, Indianapolis Downs said its “racino” operations — a combination of the Indiana Downs horse racetrack and the Indiana Live casino — had actually seen an 8.7 percent increase in its total revenue for 2010 but that...
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