Hard Rock taking over casino from troubled Indiana company

INDIANAPOLIS (AP) - Hard Rock International is taking over a northwestern Indiana casino from an ownership group whose top executives have faced criminal and financial misconduct allegations.

The Indiana Gaming Commission on Wednesday approved a deal under which Hard Rock will assume at least 85% ownership of the Hard Rock Casino Northern Indiana in Gary from Indianapolis-based Spectacle Entertainment. The commission had previously forced two former top Spectacle executives to give up their ownership stakes after one was charged by federal prosecutors with making illegal campaign contributions with casino company money.

Florida-based Hard Rock has been operating the new $300 million casino in Gary since it opened in May.

Hard Rock executive Jon Lucas said company believed it was important to clear up the ownership troubles and alleviate the concerns of state regulators.

The Hard Rock takeover of the Gary casino comes after former Spectacle CEO Rod Ratcliff agreed to give up his ownership stake and state casino license, ending more than a decade as a heavyweight in Indiana's gambling industry. State casino officials began investigating Spectacle and Ratcliff in early 2020 after the filing of the campaign contribution charges involving longtime Ratcliff business partner John Keeler.