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Anderson, a city located in the shadows of Indianapolis, Ind., isn't what it used to be. The factories have closed. People have lost their jobs. The national economy has tanked.

But a casino has come to town, changing things, bringing some hope to the town of 57,000.

According to an article in the Indianapolis Star, Hoosier Park Racing & Casino has saved Anderson from further economic despair -- which is why residents are worried, after the casino's parent company, Centaur Gaming, announced it would miss a round of debt payments and place two of its subsidiaries into bankruptcy.

According to the article, casino officials say the bankruptcy will not endanger the casino -- instead, it will help the company reduce its debt. The restructuring will not have an impact on jobs or salaries. Centaur officials will continue lobbying for tax relief as the company tries to develop a third casino at the Valley View Downs horse track in Lawrence County, Pa., at the edge of the Pennsylvania-Ohio border.

Centaur incurred $350 million in debt to open Hoosier Park -- $250 million of which was attached to licensing fees. According to the Indianapolis Star article, Hoosier Park pays 47 percent of its gaming revenue in taxes, and officials say that's a business model that doesn't work.

Hoosier Park employs 1,100 workers, generates a quarter of the county's tourism spending and supports a third of the area's tourism jobs.

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