No deal yet between Lucy Luck, gaming board

A settlement agreement has yet to be reached between Lucy Luck Gaming Inc. and the Indiana Gaming Commission.

A hearing that had been scheduled for Thursday with Elizabeth Gamboa, an administrative law judge, has been reset to Feb. 17.

"The parties represent that additional time is needed to work toward a settlement in this matter," Gamboa wrote in her order setting the new hearing date.

In June, the commission issued an order declaring Lucy Luck was ineligible for renewal of its Vigo County casino owner's license. The commission said a qualified executive team had not been established and that Lucy Luck's financing was incomplete. Gamboa later stayed that non-renewal order.

In early November, the Gaming Commission rejected a settlement proposal from Lucy Luck Gaming. In that proposal, Lucy Luck asked that the state renew its Vigo County casino license and allow it to pay minority investors per redemption agreements. It also asked that Hard Rock be allowed to take over Lucy Luck Gaming.

On Nov. 17, the Gaming Commission, in a 7-0 vote, declared it would grant the Vigo County casino license to CDITH LLC (Churchill Downs) to build and operate the Queen of Terre Haute casino.

Churchill Downs Inc. is the owner of about a dozen casinos and five racing facilities including Churchill Downs racetrack in Lousiville, Kentucky, home of the Kentucky Derby.

CDI’s plan includes a $240 million investment that will feature 1,000 slot machines, 50 table games, a 125-room luxury hotel, a state-of-the-art TwinSpires Sportsbook and several food & beverage offerings. The concepts and design features for the approximately 400,000-square-foot Queen of Terre Haute development will reflect the unique heritage of Vigo County and the surrounding region.

The Gaming Commission has stated it will award a casino owner's license to Churchill Downs upon the "final affirmation of the pending nonrenewal of the prior license holder," which is Lucy Luck.

The Gaming Commission has issued a certificate of suitability to Churchill Down.

The Tribune-Star has left messages with attorneys for the Indiana Gaming Commission and Lucy Luck; with Greg Gibson, president of Lucy Luck; and with Jennifer Reske, the ICG's deputy director for comment.

The Gaming Commission next meets Dec. 21 in a virtual format.

Reporter Howard Greninger can be reached 812-231-4204 or howard.greninger@tribstar.com. Follow on .