The Indiana Gaming Commission has reportedly moved to permanently revoke the Indiana casino license held by local entrepreneur Rod Ratcliff (pictured) over allegations that he failed to disclose the transfer of business funds into a personal wagering account.
According to a Wednesday report from The Indianapolis Star newspaper, Ratcliffe partnered with former Centaur Holdings executive John Keeler in 2018 to lead a group that established Spectacle Entertainment so as to buy Indiana’s floating Majestic Star Casino Hotel and Majestic Star Casino Hotel II venues. This entity purportedly later successfully lobbied for the right to relocate one of these Gary riverboat casinos to a fresh and more profitable land-based site located along nearby Interstate 94.
Coming casino:
The newspaper reported that this new $300 million venue is set to debut later this year as the Hard Rock Casino Northern Indiana featuring a collection of about 1,650 slots alongside some 80 gaming tables. However, any opening ceremonies are purportedly not likely to feature Ratcliff as he was forced to resign as Chairman and Chief Executive Officer for Spectacle Entertainment in June as scrutiny concerning his past behavior increased.
Questionable association:
The Indianapolis Star reported that the Indiana casino Gaming Commission alleges that Ratcliff had violated its licensing standards in 2018 by ‘submitting false information’ while simultaneously ‘hiding conduct that violates Indiana gaming rules and regulations’. The regulator purportedly moreover claimed that the businessman had later refused ‘on two separate occasions’ to meet with its investigators so as to answer questions regarding any allegations of unethical business practices.
Converging course:
The Indianapolis Star reported that this petition is to ultimately be reviewed by the Indiana Office of Administrative Law Proceedings, which is a state office charged with ruling on agency disputes. In the meantime and Ratcliff purportedly asserted that he ‘looks forward to his day in court’ so that he may ‘contest these baseless allegations.’
