The future of the Fortune Valley Hotel & Casino is uncertain, but the current owners recently disclosed they are going to be selling the property to help with their bankruptcy.
Indianapolis-based Centaur is determined to find a buyer, to the extent they hired consulting firm the Innovation Group to find one for them. Centaur filed for Chapter 11 bankruptcy protection Saturday.
CFO Kurt Wilson reported that Centaur will focus on operating racetracks that feature casino gambling, which he called “racinos". Hoosier Park Racing & Casino in Indiana is one example and Centaur has plans to build another racino in Pennsylvania. Meanwhile Fortune Valley has no racetrack. It is the largest casino in Central City, featuring 780 slot machines.
“We have been actively engaged in dialogue and conversation with a number of parties since August," Wilson said. “If we did something tomorrow, it could take six to 18 months to get through the regulatory process."