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  • Indian Charlie sire of Nechez Dawn 1st Alw (May 23, 7th AP). Owner, Tresner, Coby and Matsas, Alex; Breeder, B. P. Walden Jr., Hargus Sexton & SandraSexton...
  • Hard Spun sire of Ribbon Taffy 1st Mdn (May 23, 5th IND). Owner, Pucek, John Paul and Marcinek, Paige; Breeder, Matthew R. Herbener...
  • Canadian Frontier sire of Golden Frontier 1st Alw (May 24, 3rd CD). Owner, George Fister; Breeder, Brereton C. Jones...
  • Yankee Gentleman sire of Little Dale 1st Alw (May 23, 7th BEL). Owner, Vaccarezza, Priscilla, Amante, Anthony and Garrity, Christine; Breeder, Philip Birsh...
  • Flower Alley sire of Bouquet Booth 1st Alw (May 24, 7th CD). Owner, Right Time Racing LLC; Breeder, Brookdale & Dr. Ted Folkerth...
  • Proud Citizen sire of Citizen Kat 1st Alw (May 23, 7th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Mark Reid & Charles Zacney...
  • Medaglia d'Oro sire of Dealer 1st Alw (May 23, 8th CT). Owner, Coleswood Farm, Inc.; Breeder, Family Broodmare, LLC...
  • Philanthropist sire of Rob the Cradle 1st Alw (May 23, 2nd WO). Owner, Andrews, Denny and Paradox Farms Inc.; Breeder, Gardiner Farms Limited...
  • Chapel Royal sire of Mr Rodriguez 1st Mdn (May 24, 2nd BEL). Owner, Imperio, Michael and Loftus, Elizabeth; Breeder, Jill Imperio & Daniella Corian...
  • First Samurai sire of Nakano 1st Alw (May 24, 8th CRC). Owner, Thoroughbred Futures Racing; Breeder, Hubert Vester...
  • Smoke Glacken sire of Walker Bay 1st Alw (May 24, 8th CD). Owner, Hammersmith, Dennis L. and Paden Racing, Inc.; Breeder, Brian O'Rourke & Derry Meeting Farm...
  • Luftikus sire of Joyful Kiss 1st Alw (May 23, 7th CT). Owner, Winfred L. Hess, Jr.; Breeder, Ann M. Casey...
  • Jazil sire of Love Me Good 1st Mdn (May 23, 2nd PID). Owner, Sheltowee Farm and Blazing Meadow Farm; Breeder, Sheltowee Farm...
  • Petionville sire of Wups 1st Thoroughbred Maiden Derby (May 23, 9th BOI). Owner, Paul Treasure; Breeder, Michael Iavarone...
  • Include sire of Window Boy 1st Grover (Buddy) Delp Memorial S. (May 23, 8th DEL). Owner, Luis Arenas; Breeder, Shelby Lane Farm Inc. & IncludeSyndicate...
  • Holy Bull sire of Catalan 1st Alw (May 24, 8th BEL). Owner, Elizabeth Loftus; Breeder, B. P. Walden & Dr. S. Marcum...
  • City Weekend sire of City Sweets 1st Mdn (May 23, 3rd IND). Owner, Mast Thoroughbreds LLC; Breeder, Robert Gorham & Mast Thoroughbreds LLC...
  • Latent Heat sire of Heated Troubles 1st Mdn (May 24, 5th RD). Owner, Ashleigh Stud; Breeder, Ashleigh Stud, Frank Ramos & JackieRamos...
  • Mancini sire of Ride Around Sally 1st Alw (May 23, 6th IND). Owner, Joe Uliano; Breeder, Spade Stable...
  • Hard Spun sire of Gleaning 1st Mdn (May 23, 4th PID). Owner, Robert T. Manfuso; Breeder, Nursery Place & Robert T. Manfuso...
  • Wando sire of Deb's Girly Girl 1st Alw (May 24, 6th RD). Owner, Deborah F. Metz; Breeder, Deborah F. Metz...
  • Posse sire of Parody 1st Alw (May 23, 4th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Don Mattox & Pam Mattox...
  • Arch sire of Wiki 1st Alw (May 24, 2nd PID). Owner, Midwest Thoroughbreds, Inc.; Breeder, Stuart S. Janney, III LLC....
  • Strut the Stage sire of Head Honcho 1st Alw (May 23, 7th WO). Owner, Annecchini and D'Alimonte Holdings Inc. and Kingfield Farm; Breeder, William D. Graham...
  • Benchmark sire of Planet Sunshine 1st Alw (May 24, 5th GG). Owner, Thomas A. Shapiro; Breeder, Thomas Shapiro...

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Hoosier Park owner Centaur files for bankruptcy

Posted: Monday, March 08, 2010 11:33 AM

by Frank Angst

Citing a heavy debt load, Hoosier Park owner Centaur LLC has filed for bankruptcy in Delaware.

Several subsidiaries of the Indianapolis-based company also filed for Chapter 11, including Hoosier Park Racing and Casino. But Centaur executives said the Anderson, Indiana, track and casino will continue with its usual operations.

“We will continue to provide our guests with high-value gaming, great dining, generous club rewards, exceptional promotions and special events, and exciting racing. It will be business as usual at all properties,” said Hoosier Park General Manager Jim Brown. “For our customers and employees, we look forward to a seamless experience during the reorganization process.”

Centaur filed for Chapter 11 protection on Saturday in the United States Bankruptcy Court for the District of Delaware. That same court currently is hearing the Chapter 11 case of racetrack owner Magna Entertainment.

Centaur owned 38% of Hoosier Park in 2006 when it purchased Churchill Downs Inc.’s majority interest in the track. The second-largest creditor named in the Chapter 11 case is Churchill, which is owed $15-million.

Another racing-related creditor is the Indiana Horse Racing Commission, which has a claim of $425,212.

Centaur also owns Fox Valley, a Colorado hotel and casino. The company said it will move forward on construction of a planned Standardbred racino operation in Lawrence County, Pennsylvania, named Valley View Downs.

In October analysts lowered the company’s rating after it missed $13.4-million in interest payments on $400-million in debt. The company said that while positive cash flow at its properties will cover operating expenses, it needs to restructure.

“Over the past several months, we have taken steps to bring our capital structure in line with current marketplace realities and other critical factors. It is important to understand that our corporate balance sheet is the issue, not our businesses in Indiana, Colorado or Pennsylvania,” said Centaur Chairman Rod Ratcliff. “This necessary step will provide us with the financial flexibility to strongly position the company for future success. During Centaur’s 18-year history, we have taken great pride in everything we do. We are excited about our future, and we thank our guests, employees, vendors and key partners for their support as we navigate the restructuring process. It’s a new beginning to a bright future.”

The company said it hopes to emerge from bankruptcy by August.

Frank Angst is senior writer of Thoroughbred Times

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