Under new regulations, paid fantasy sports companies have to pay a $50,000 initial licensing fee, and a $5,000 annual fee after that.
The Indiana Gaming Commission says an anonymous tip led investigators to the Indianapolis home on Friday morning.
Lawmakers passed a fantasy sports bill last session, but it established few requirements.
Experts say competition from Illinois and Ohio may force Indiana to reconsider its casino gaming revenue stream.
Lauth and Cook had joined forces to develop the French Lick property, but the collaboration has been marked by feuding and legal battles.