Steuben County Casino Bid Draws $500M Resort Proposal

FREMONT, Ind.: A Steuben County developer is pitching a lakeside resort with a casino as northeast Indiana counties compete for a new gaming license.

The proposal adds a local development plan to a casino race that also includes Allen and DeKalb counties.

Realtor and developer Mark Hansbarger presented plans for a more than $500 million destination resort at Walters Lake, west of Fremont. The concept includes a 400-room hotel, restaurants, trails, family attractions and a casino.

The proposal follows Indiana’s approval of legislation allowing Allen, DeKalb and Steuben counties to compete for a new casino license. The Indiana Senate previously passed House Bill 1038 after a narrow 26-22 vote, clearing the way for the northeast Indiana license process.

Walters Lake Site Proposed

Hansbarger unveiled the plan ahead of a Fremont Plan Commission meeting focused on a proposed overlay district for the 186-acre property. The meeting was part of the early planning process and did not decide whether a casino will be built.

The property includes more than 3,400 feet of shoreline along Walters Lake. Hansbarger said the site is about a half-mile from the Michigan state line, about a mile from the Indiana Toll Road and only minutes from Interstate 69.

He argued that location could give Steuben County an advantage over Allen and DeKalb counties. Citing a Steuben County Economic Development Corporation feasibility study, Hansbarger said 48% of revenue could come from Michigan.

Hansbarger said the project is intended to be a resort with a casino rather than a traditional roadside gambling property. He said the plan places the hotel and resort amenities along the shoreline while setting the casino farther back into the hillside to preserve views and reduce impacts on nearby homes.

Casino License Competition Continues

Steuben County is one of three counties eligible to compete for the new license. Allen and DeKalb counties are also able to pursue the opportunity under the legislation approved earlier this year.

The Steuben County Economic Development Corporation previously released a feasibility study estimating that a casino resort could generate up to $16.6 million annually in local tax revenue. The study also estimated the project could create between 800 and 1,200 jobs.

Hansbarger said he has started discussions with several potential resort and casino operators. However, he said he is acting as the developer and landowner, not as the casino operator.

The Walters Lake property is currently listed for sale for $3.75 million. Hansbarger said his main goal is assembling the right development team to pursue the project.

Local Moratorium Slows Process

The Fremont Plan Commission meeting focused on whether the property should be placed under an overlay district. That type of district could establish development standards covering traffic, lighting, environmental protections and design requirements.

The commission also put a moratorium in place covering casinos and gaming, along with data centers and battery storage. The move pauses Hansbarger’s plans while local officials review zoning and regulatory standards before considering further approvals.

There was no public comment during the meeting, but opponents of a casino still attended. Local approval remains only one part of the process because Steuben County voters would also have to approve casino gambling in a November referendum.

If voters approve casino gambling, developers would have until December 1, 2026, to submit formal proposals to the Indiana Gaming Commission. Until then, the Walters Lake plan remains an early-stage pitch in a wider competition for northeast Indiana’s newest casino license.

RELATED TOPICS: Business