Grand Victoria Casino in Rising Sun may soon have a new name. file photo

(Rising Sun, Ind.) – A local riverboat casino may soon undergo a rebranding as its new owners attempt to make it more competitive.

Grand Victoria Casino & Resort in Rising Sun was purchased this year from Hyatt by Full House Resorts for $43 million. The deal closed in April after Full House was awarded the gaming license from the Indiana Gaming Commission in March.

Last Thursday, the Rising Sun City Council approved the renaming of the road leading to the casino from Grand Victoria Drive to Rising Star Drive.

Rising Star Casino & Resort’s new address will be 777 Rising Star Drive.

The Rising Sun riverboat has about 15 percent of the market share of casino revenue in southeast Indiana. Even more competition will come from downtown Cincinnati’s Horseshoe Casino slated to open in 2013.

The prospect of having to share the market with yet another competitor has not frightened the new ownership. Full House said in its sale announcement that the company -- owners of one casino in Nevada and operators of a handful of others around the country -- has a proven track record of managing properties in competitive environments. 

Grand Victoria has 40,000 square feet of gaming space with 1,300 slot machines and 37 table games. There is also a 201 room hotel and 18 hole links-style golf course.