๐Ÿ– Horseshoe Casino Baltimore's parent company acquired by Eldorado Resorts - Baltimore Sun

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Business As revenue slides, Horseshoe Casino Baltimore buys up nearby land to secure its future. By Jeff Barker. Latest Business. Correction: An earlier version of this story incorrectly spelled the name of Horseshoe Casino. The Baltimore casino opened in It is a partnership between Caesars and several local and national investors. See all newsletters. The casino, whose revenues have declined since a new MGM opened, is eager to transform its South Baltimore industrial area into an entertainment district. The deal โ€” following pressure from activist investor Carl Icahn โ€” is targeted to close in the first half of if approved by gambling regulators and shareholders. Most Read on Baltimore Sun. Skip to content. The Evening Sun Newsletter. It is also evaluating whether to sell properties on the Strip. Caesars Entertainment Corp. You are now following this newsletter. Mar 24, AM. Caesars operates three casinos in Atlantic City and Eldorado operates one. It is uncertain whether the new company will venture into Japan, where major casino operators have set their sights after the nation legalized casino gambling last year. What you need to know as Maryland moves into Phase 2 of coronavirus recovery.{/INSERTKEYS}{/PARAGRAPH} Business 1. Shareholders of Eldorado Resorts Inc. It will be headquartered in Reno, Nevada, where Eldorado is based, and have a significant corporate presence in Las Vegas, where Caesars is based. The casino has been buying nearby properties in recent years. He also got to pick board members. Get your evening news in your e-mail inbox. The deal gives Eldorado its first access to the Las Vegas Strip market. Get all the top news and sports from the baltimoresun. Recommended on Baltimore Sun. {PARAGRAPH}{INSERTKEYS}The acquisition would create a casino juggernaut about 60 casino-resorts in 16 states under a single name, Caesars, creating the largest gambling operator in the United States. Icahn revealed earlier this year that he had amassed an enormous stake in Caesars Entertainment and pushed for fundamental changes at the company, including board representation and a say in the replacement of the then-CEO. Horseshoe Casino Baltimore is buying up land near stadiums as casinos adjust to shifting market. It owns the buildings and land of more than 20 casino-resorts, including Caesars Palace on the Las Vegas Strip, and leases the operations back to casino operators. Other terms of the deal include VICI being given right of first refusals for whole asset sale or sale-leaseback transactions on two Las Vegas Strip properties and the Horseshoe Casino Baltimore. As revenue slides, Horseshoe Casino Baltimore buys up nearby land to secure its future. The deal was months in the making. Reeg told analysts and investors the company expects to sell some properties that may allow it to avoid federal anti-trust issues. Coronavirus What can reopen?