This move may mark a significant victory for the casino’s owners, as the new location should help the beleaguered property draw in additional customers
The Indiana General Assembly is mulling over a move that could shake up the state’s casino landscape. Senate Bill 293, introduced by Senator Andy Zay, would relocate the Rising Star Casino from its current home in Rising Sun to New Haven in northeast Indiana. The move could turn around the casino’s fortunes while bolstering the New Haven area economy.
New Haven Could Significantly Benefit
The bill would allow Full House Resorts, the Las Vegas-based parent company of Rising Star Casino, to transfer its gaming license and build a new $500 million casino and hotel complex near the intersection of I-469 and State Road 30 in New Haven. The project envisions a primary casino building and restaurants, later followed by a 200-room hotel, event center, and other amenities.
According to local news outlet Inside INdiana Business, the new casino’s initial phase is projected to create approximately 2,400 jobs, significantly bolstering the economy of New Haven and its surrounding communities. Senator Zay emphasized that the casino could breathe new life into the area, enhance the region’s quality of life, and provide a new entertainment hub to bolster tourism.
We want people to come and be a part of our growing community and quality of life investment up here.
Senator Andy Zay
The legislation also addresses concerns about the city of Rising Sun, which currently houses the casino. Full House Resorts intends to help redevelop the existing casino site in collaboration with the city and the Indiana Economic Development Corporation (IEDC). Full House has committed to financially supporting Rising Sun for at least 20 years, aiding the community’s financial stability and future growth.
The Company Reiterated Its Focus on Sustainability
Zay’s bill stipulates mandates that Full House Resorts must invest at least $500 million in the project, half of which must finance its first phase. The bill includes stringent stipulations on the use of tax revenues generated by the casino. It establishes the Together for Tomorrow Commission, a body comprising local leaders responsible for ensuring appropriate tax revenue distribution.
Key provisions of the bill include at least 20% of New Haven’s tax revenue going towards lowering local homeowners’ property taxes. A minimum of 3% of the quarterly tax revenue must go toward the Together for Tomorrow Fund, helping finance community-oriented projects like public health initiatives, addiction recovery services, and homelessness solutions.
At first glance, the bill is a win-win situation for Indiana and Full House Resorts. The operator gets to relocate one of the worst-performing locations in its portfolio, while local communities in Rising Sun and New Haven can reap significant benefits. As Senate Bill 293 progresses through the legislative process, stakeholders in the broader Indiana community will be closely watching.
