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New owners of Caesars Southern Indiana working toward generational wealth as tribal population grows

EBIC Holdings held a ribbon cutting to celebrate their new ownership of the property.

ELIZABETH, Indiana — EBCI Holdings leadership was on hand for a ribbon-cutting to celebrate their ownership of Caesars Southern Indiana.

This is EBCI Holdings' first move into commercial gaming, and also their first property in Indiana. EBCI Holdings operates two tribal casinos in North Carolina, both managed by Caesars.

Principal Chief Richard Sneed said diversifying EBCI Holdings assets was key as their tribal population continues to grow and the interest in commercial gaming spikes. 

"We needed to position ourselves so when those emerging markets occurred we would be able to participate," he said. 

Sneed said as a tribal community, their focus is providing for the next generation

"All of the revenue from this property will go into endowments to fund health care, housing, and higher education for generations to come," he said. 

Of note, EBCI Holdings will continue to use Caesars branding as well as participate in the popular Caesars loyalty program, Caesars Rewards. Additionally, Caesars Southern Indiana has retained nearly 900 team members in their current positions and is looking to hire additional staff to join its expanding team.

The celebration of new ownership comes two weeks after Churchill Downs Inc. announced they are placing a Derby City gaming location in downtown Louisville come 2023.

The location will be home to a casino-style historical horse betting facility. Of note, Derby City Gaming is not a full-fledged casino, but some viewed the expansion as a way for CDI to compete with Ceasars Southern Indiana. CEO of EBCI Holdings, Scott Barber says the expansion was not a concern.

"I think there is a very differentiated gaming product. I think there is room for them to grow and us to grow. I think there is a lot of room for this market to grow in overall gaming," Barber said. 

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