Belterra Casino Resort & Spa

Belterra Casino Resort
Location Florence, Indiana
Address 777 Belterra Drive
Opening date October 27, 2000
No. of rooms 608
Total gaming space 47,201 sq ft (4,385 m2)
Notable restaurants 19 Steak and Seafood
Casino type Riverboat
Owner Gaming and Leisure Properties
Operating license holder Pinnacle Entertainment
Website belterracasino.com

Belterra Casino Resort & Spa is a riverboat casino on the Ohio River in Switzerland County, Indiana near Florence, roughly halfway between Louisville, Kentucky and Cincinnati, Ohio. It is owned by Gaming and Leisure Properties and operated by Pinnacle Entertainment.

The casino has 47,201 square feet (4,385 m2) of gaming space, with 1,277 gaming devices, 45 table games, and 9 poker tables.[1] From 2009 to 2011, the property reported annual revenue ranging between $152 and $162 million, and earnings between $27 and $30 million.[2]

The property has 1,062 employees.[3]

Belterra is located on 315 acres (127 ha) of land, 148 acres (60 ha) of which is leased on a 50-year term. Pinnacle has an option to buy the leased land in 2020 for $30 million.[4]

History

In 1993, the Indiana General Assembly legalized riverboat casinos, including five licenses to be issued for sites along the Ohio River.[5] A referendum was required in each county to approve casinos.[6] Switzerland County voters passed such a measure in November 1993.[7]

The Indiana Gaming Commission issued the last of the five licenses in 1998 to Hollywood Park, Inc. (later Pinnacle Entertainment) and its Boomtown subsidiary, for a $148-million project in Switzerland County, including a 12-story, 309-room hotel.[8]

Belterra was set to open in August 2000, but was delayed when the riverboat, while en route to Indiana, collided with a barge and sank.[9] After being repaired, the casino opened on October 27.[10]

In April 2016, the property was sold to Gaming and Leisure Properties along with almost all of Pinnacle's real estate assets, and leased back to Pinnacle.[11][12]

See also

References

  1. ↑ Annual Report to Governor Mitch Daniels (PDF) (Report). Indiana Gaming Commission. 2011. p. 65-66. Retrieved 2012-07-28.
  2. ↑ Form 10-K (Report). Pinnacle Entertainment. February 29, 2012. p. 31.
  3. ↑ Form 10-K (Report). Pinnacle Entertainment. February 29, 2012. p. 8.
  4. ↑ Form 10-K (Report). Pinnacle Entertainment. February 29, 2012. p. 24.
  5. ↑ Simpson, Cam (July 1, 1993). "Riverboats shoot for early '94". Evansville Courier.  – via NewsBank (subscription required)
  6. ↑ "Casino referendums face tough deadlines". The Post-Tribune. Gary. AP. July 22, 1993.  – via NewsBank (subscription required)
  7. ↑ "No one files to recount casino votes". Evansville Courier. AP. November 10, 1993.  – via NewsBank (subscription required)
  8. ↑ Horstman, Barry M. (September 15, 1998). "Switzerland County lands casino". Cincinnati Post.  – via NewsBank (subscription required)
  9. ↑ Horstman, Barry M. (August 10, 2000). "Accident delays casino opening". Cincinnati Post.  – via NewsBank (subscription required)
  10. ↑ Batz, Bob (November 5, 2000). "Viva, Las Vevay! Sleepy river town gets a dose of casino caffeine". Dayton Daily News.  – via NewsBank (subscription required)
  11. ↑ Andrew Steele (April 27, 2016). "Judge allows Ameristar deal to proceed". The Times of Northwest Indiana. Retrieved 2016-07-23.
  12. ↑ "Gaming and Leisure Properties, Inc. completes the previously announced acquisition of the real estate assets of Pinnacle Entertainment, Inc." (Press release). Pinnacle Entertainment. April 28, 2016. Retrieved 2016-07-22.

Coordinates: 38°46′50″N 84°56′22″W / 38.7806°N 84.9394°W / 38.7806; -84.9394

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