Rising Sun casino owner could move gambling to Marion County

The owner could move its gambling operations if the state gaming commission approves. This covers the owner of the riverboat operated from Ohio County and a proposed casino in Marion County. The owner must submit letters of support signed by the mayors of Rising Sun and Indianapolis and plan to spend at least $750 million on the casino and other attractions. It must promise to work with local and state officials on the vacated site and meet building and safety rules. At least 60% of the planned spending must go into the first building phase. If enacted, this section would take effect July 1, 2026. The owner must finish the casino and other attractions within five years after gambling starts there.

The owner would pay a relocation fee and another fee if it soon transfers its license interest. These rules apply to the Ohio County casino owner approved to move gambling to Marion County and to anyone who takes over its license. The relocation fee is $25 million. A transfer within 10 years of approval would require a $50 million payment before regulators approve it. The new owner would have to complete any unfinished part of the $750 million investment. The $25 million would be due in two parts after approval and after gambling begins. A new owner's remaining investment would be due within 10 years of relocation approval.

The owner would make annual payments to Rising Sun and Ohio County, while state payments tied to the old casino would end. Rising Sun and Ohio County would receive owner payments. Recipients of state tax money tied to the Ohio County casino would stop receiving those distributions. Each community's annual payment would equal the casino tax money it received in the last full state fiscal year of gambling in Ohio County. The first owner payments would be due before October 1 after the first state fiscal year of gambling in Marion County, and yearly after that.

The state would split the Marion County casino's extra gambling tax equally with the county. This split applies to the extra gambling tax collected from a casino in Marion County. The county could use its share to build or repair local streets. It could not use that money to reduce the traffic capacity of existing roads or to pay for greenways, bike lanes, trails, or sidewalks. The state would make the split each quarter using taxes collected in the previous quarter.

The state would pay part of the casino's wagering tax to its host city or county. This describes wagering tax from a casino located in Marion County. After money is set aside for statewide sharing, 25% of the remaining wagering tax would go to the host city if it is in Marion County. If the casino has no qualifying host city, that share would go to its host county. The rest would go to the state. The state would distribute this tax money each month after the casino begins paying it.