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Owing to very low performances Caesars Entertainment plans to invest in its Horseshoe Casino in Baltimore, Maryland in order to enhance the economic condition. The Horseshoe Casino Baltimore is facing a severe financial crisis, with the latest reports showing a huge decrease in revenues. According to the local newspapers, last month, the casino’s revenue dipped by 2.7 percent to a US$21.4 million.
As reported by an official statement: Caesar Entertainment’s plan is to buy a nearby land to “establish a sports and entertainment district that connects the casino through the football stadium and baseball park to the Inner Harbor.” The new project is scheduled to 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.
Source: European Gaming Media and Events