ANDERSON, Ind. -- From behind the counter at his tire shop, Jon Walker has watched this city change.
"For lease" and "Out of business" signs pepper storefronts on Ind. 9, results of a decade's worth of auto-plant closings and job losses amplified by a national recession.
But he's also watched as one of the city's bright spots -- Hoosier Park Racing & Casino -- has protected Anderson from even more economic despair.
"Anderson has a lot of tough issues now," Walker said, "but if the casino wasn't here, we'd have a ton more."
That's what has many in this blue-collar city of 57,000 worried.
Last week, Hoosier Park's parent company, Centaur Gaming, announced it would not make its most recent round of debt payments and placed two of its subsidiaries into bankruptcy.
That news has intensified the monthslong speculation about the health of the racetrack casino, or racino, which spent much of this year's legislative session unsuccessfully lobbying for tax relief.
Centaur Chief Financial Officer Curt Wilson said the bankruptcy would not endanger Hoosier Park. The move, he said, is part of an overall restructuring to reduce the company's debt and ensure its three casino properties can operate successfully.
The restructuring also won't result in any layoffs or pay cuts in Anderson, said Hoosier Park general manager Jim Brown.
Centaur's officials say they will continue to press state lawmakers to reduce the amount of taxes and fees the track pays, which are much higher than the state's riverboat casinos.
But for some, the financial writing for Hoosier Park already is on the wall.
"I'm really very worried," said Rep. Terri Austin, D-Anderson.
"It's unfair to continue to hold them at a disadvantage. Something needs to change soon."
Wilson and Brown stressed that the racino and the company's Fortune Valley Hotel and Casino in Central City, Colo., continue to turn profits.
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