The deadline to apply for a casino license for a recently approved casino in Vigo County ended Monday. However, only one company tendered a proposal demonstrating its interest in developing a casino, reports casino.org.
On Monday, only Spectacle Jack LLC tendered an application to operate a casino in Vigo County.
Last month, the Indiana Gaming Commission had extended the deadline for receipt of applications from prospective developers and gambling operators.
In an announcement, the gambling regulator had confirmed that the deadline to apply for a gaming license and submit proposals has been extended by one day to Dec. 2.
Vigo County residents approved inland gaming in the county in general election in November. The casino referendum passed 15,145 to 8,729, a split of 63.44% percent in favor, to 36.56% against.
The casino license application has a fee of $50,000. The successful applicant would pay the commission a $5 million license fee. Moreover, a minimum of $100 million should be promised in investment by the selected operator.
It is expected that the Gambling Commission finalizes and selects a casino operator by the first quarter of 2020.
It is expected that the new gambling establishment would drive tourists and visitors to the area. According to the estimates, about 1.1 million people could visit the Terre Haute area annually and the industry could generate about $105 million a year.