INDIANAPOLIS, Ind. (WTWO/WAWV) — The Indiana Gaming Commission officially awarded the Vigo County casino operators license to Churchill Downs at its meeting Tuesday afternoon, in addition to approving a settlement with former license holder Lucy Luck Gaming.

The commission announced in the meeting that Lucy Luck Gaming had accepted its settlement counteroffer before unanimously voting to approve the offer.

The settlement agreement states that Lucy Luck Gaming must send written notification to the IGC requesting a permanent surrender of its casino license. A joint motion to dismiss the review proceedings must also be sent by both parties to Administrative Law Judge Elizabeth Gamboa within three days of the agreement’s effective date.

The IGC must return the $5 million fee Lucy Luck paid for its casino license back to the company by January 20, 2022 and the investigation into the revocation of Lucy Luck’s license will end.

At Tuesday’s meeting, IGC members also unanimously voted to officially award the casino license to Churchill Downs, with a few stipulations.

Churchill Downs must pay a $5 million fee to the IGC, just as Lucy Luck did when it received the casino license. Churchill Downs must also make an investment of at least $100 million, with 65% used for development of the casino and 35% used for development of nongaming amenities.

Churchill Downs must provide the IGC with a Local Development Agreement within 90 days of the effective date of the order.

While reaching a settlement with Lucy Luck helped clear one obstacle for a Vigo County casino, other issues are potentially arising. On Monday afternoon, the IGC received an administrative challenge on its license decision filed by Full House Resorts, one of the three companies denied the license during the application process.

Despite the commission officially awarding the license Tuesday to Churchill Downs, the legal complaints filed by Full House Resorts could further delay the casino’s construction. According to IGC representative Jenny Reske, there are conditions within the license laying out what to do should a stay be imposed regarding Full House’s complaint.

This is a developing story. Follow MyWabashValley.com for updates.