The commission created the requirements in response to the Spectacle Entertainment investigation. So why did the IGC create these new rules in the first place? Since they’re not a part of the day to day gambling operations, they don’t believe that they should have to release the extra financial info. The shareholders’ argument rests on the idea that they are only investors in the gaming company. “The IGC’s attempt to extend it’s jurisdiction to holders of an equity interest is beyond the scope of authority granted by the Indiana General Assembly.” The Spectacle lawsuit is arguing that the IGC is going too far with the move. Requiring that kind of detailed background info from workers is one thing, but making investors disclose it is a new step for Indiana. There are few surprises, which helps prevent any kind of integrity issues with the state’s gambling companies. Keeping checks like that in place helps the commission make sure that things are going off without a hitch. That’s part of the IGC’s safety and background requirements for the industry. You have to receive a Level 1 occupational license to operate gambling machines in Indiana. That’s always been a reality for workers in the state’s gambling industry, but not for shareholders of the companies themselves. The new rules from the IGC force shareholders in gaming companies to release detailed financial information. Spectacle Entertainment owners fight new IGC rules This shouldn’t effect the Hard Rock’s grand opening on May 14, but it’s just another development in the never-ending Spectacle situation. The friction is due to some financial disclosure rules that the IGC put into place a few weeks ago. Spectacle Entertainment is running the show at Hard Rock Casino Northern Indiana.Īround half of Spectacle’s shareholders are now suing the Indiana Gaming Commission (IGC). The parent company of Indiana’s newest casino has found itself in the midst of another lawsuit.
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