Centaur Gaming Bids $500M For Indy Downs Racino

Law360, Wilmington (September 17, 2012, 5:36 PM EDT) -- Bankrupt Indianapolis Downs LLC revealed Friday that it has received a $500 million bid for its combination horsetrack and casino from rival Centaur Gaming LLC, but the offer has already come under fire from major bondholder Fortress Investment Group LLC.

Centaur, which escaped a bankruptcy of its own last year, submitted a bid of $500 million plus $1 on July 20 for the Indianapolis-area gaming complex, prompting the debtors to reopen an auction that had been canceled in favor of a stand-alone recapitalization, according to the...
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