By Christin Nance Lazerus, Post-Tribune staff writer
EAST CHICAGO -- The Indiana Gaming Commission approved a transfer in ownership for Horseshoe Casino at its Thursday meeting at Resorts Casino East Chicago.
Last December, Harrah's Entertainment approved a $17.1 billion sale to private equity and investment firms Apollo Management Group and Texas Pacific Group.
The commission investigated the new ownership group for the past nine months and could not find any issues that would block the acquisition.
Hammond Mayor Tom McDermott Jr. emphasized his support of the casino's new owners.
"We met with Apollo/TPG about their commitment to the community and expansion, and we're very comfortable with the transfer," McDermott said.
In another matter, Majestic Star Casinos' CEO Don Barden was granted permission for a financing plan for his Pittsburgh slot parlor.
Indiana Gaming Commission Executive Director Ernest Yelton said whenever a licensee enters into a debt transaction, the commission needs to sign off on it -- even though it doesn't directly affect the future of Majestic Star.
Barden was awarded the license for the Pittsburgh slot parlor in January.
The commission wants to ensure license holders can succeed in a competitive market. To that end, Barden is required to submit his first installment of quarterly reports for Majestic Stars on Nov. 15.