EBCI Holdings held a ribbon-cutting ceremony to celebrate taking over the ownership of Caesars Southern Indiana North Carolina-based Eastern Band of Cherokee Indians.
The 110,000-square-foot casino in Elizabeth is EBCI Holding’s first casino acquisition outside of North Carolina. The aim is to own ‘six to eight casinos over the next five years.’
Although there is a new ownership team, the Caesars branding and the Caesars Rewards loyalty program will remain in place.
In December 2020, EBCI reached a $250m agreement with Caesars Entertainment to purchase the casino.
ECBI Principal Chief Richard Sneed said: “Through the thousands of years, my ancestors — the indigenous people of North America — engaged in rigorous commerce before and after European contact,” he said. “The same entrepreneurial spirit that drove our ancestors along trade routes between other tribal nations as far south as Florida is alive and well today.”
“While we are committed to providing the best entertainment and gaming for our guests, we are equally committed to our employees, their families and the Southern Indiana and Louisville communities,” he said. We’re very proud of the fact that we retained 100 per cent of the employees. We didn’t come in to turn things upside down — we just want to improve on what’s already an outstanding foundation.”
ECBI Holdings CEO Scott Barber added: “We look forward to growing the company. Our goal is to have six to eight casinos over the next five years, and in addition to brick and mortar casinos, we’re looking at other channels, like online gaming and mobile sports betting.”
Josh Kornberg, Executive Director of the Caesars Foundation of Floyd County, added: “In 2020, the foundation contributed $2.7m, and this year we’re on pace to contribute just about $3m back to our community, adding this to a $51.5m that the foundation has already invested into our community. But none of this would be possible without the ongoing generosity from our friends here at Caesars Southern Indiana, who have invested more than $65m into our foundation.”
“Now as we enter into this new chapter under new leadership, I’m elated about the opportunities that are before us, and I know we will work hard to make our benefactors proud to be such devoted contributors to the Caesars Foundation of Floyd County,” he said.