Hoosier Park casino owner files Chapter 11 bankruptcy

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ANDERSON, Ind. — The company that owns Indiana's Hoosier Park casino and horse track and a Colorado casino has filed for Chapter 11 bankruptcy protection. Centaur LLC says normal operations will continue at Hoosier Park in Anderson and Fortune Valley Hotel & Casino in Central City, Colo., despite Sunday's filing. The Indianapolis-based company said it would also continue work on its Valley View Downs & Casino projects near New Castle, Pa.

Hoosier Park general manager Jim Brown says Centaur's casinos are healthy businesses, but it has struggled to make debt payments.

Centaur last October missed a $13.4 million payment due on more than $400 million in debt. The company borrowed heavily to pay for a $250 million state license fee and $150 million in upgrades to open the Hoosier Park casino in 2008.