Full House Bets $650M on Indianapolis
- Aug 13, 2015
A prime area of Indianapolis that has sat dormant for years could soon host one of the largest privately funded construction projects in The Hoosier State’s history.
Full House Resorts Inc., a Las Vegas-based company that owns the Rising Sun Casino Resort in Indiana, has unveiled plans to develop American Place, a $650 million casino and retail complex slated to rise on 135 acres of land near the old Indianapolis International terminal.
The proposal came in response to the Indianapolis International Airport’s “Land Use Initiative” RFP. After conducting a review of its land holdings, the organization decided to bring several hundred acres to the market for sale or lease for non-aviation purposes.
If approved, American Place will feature Indiana’s smallest casino, as well as 700,000 square feet of retail space, residential condominiums, a small 25-villa boutique hotel, a conference and performance center, offices, restaurants, a movie theater with moving seats and a health club. Plans also call for a central square surrounded by a unique fountain and offering 3D imaging experience, and a seasonal plaza with ice skating, as well as a European Christmas market in the winter and landscaped gardens and forests in the summer.
An independent third-party study estimated that the project would generate approximately $85 million annually in new state and local taxes, create about 4,000 permanent jobs and attract 10 to 15 million visitors per year. Furthermore, according to the Indianapolis Business Journal, about 2,000 workers would be needed during the development’s three-year construction schedule.
In order to move forward, the project will require approval from the Airport Authority as landlord and the modification of gaming legislation by the Indiana legislature that would allow Full House to relocate a portion of its 1,400 underutilized gaming machines and 60 gaming tables from Rising Sun to Indianapolis.
“We are proposing to relocate approximately half of the gaming capacity from our over-supplied existing casino in Rising Sun, so as to not increase the number of authorized gaming positions within Indiana,” Daniel Lee, CEO of Full House Resorts, said in prepared remarks.
Rendering via americanplace.us