Caesars will invest in its Horseshoe Casino in Baltimore, Maryland to boost economic situation.
US.- As performance has not been as expected at Caesar Entertainment’s Maryland venue, the Las Vegas operator will invest in its casino to boost the economic status. The Horseshoe Casino Baltimore is facing a financial crisis, with the latest reports showing a severe decrease. Last month, the casino’s revenue dipped 2.7 per cent to a US$21.4 million revenue, according to the local newspapers.
Caesar Entertainment’s plan is to buy up nearby land to “establish a sports and entertainment district that connects the casino through the football stadium and baseball park to the Inner Harbor,” as reported by the official statement. The new project will start its operations by 2019 when the company expects to install a “transformation of the gritty industrial area of warehouses and parking lots into a more inviting entertainment district.”
“Acquisitions include an old warehouse on Warner Street between Horseshoe and M&T Bank Stadium for US$4.8 million and an office building across the street for US$3.2 million. The partnership also has options on two city-owned parking lots on Ostend and Warner streets,” revealed the company to the Baltimore Sun.