Horseshoe Casino Baltimore Announces Plan to Build Retail Caesars Sportsbook Inside it Property

Sportsbook
Horseshoe Casino Baltimore announced on Wednesday its plans to put up a retail sportsbook inside its property.

Aside from the sportsbook, Horseshoe will be adding new dining options, a new pub concept, and an entertainment venue to transform itself in preparation for the launch of legal sports betting in the state.

The sports betting area is expected to help casino revenues which have lagged since the onset of the pandemic in 2020. The casino has seen a year-over-year decline in revenue from January to June before finally seeing some positive numbers in July and August. However, the latest figures are still 1.6% lower than the pre-pandemic 2019 levels.

The Brew Brothers Concept

A new feature of the sports betting area is a dining concept known as The Brew Brothers. This initiative is based on a a concept with the same name at the Eldorado Resort Casino in Reno and will offer local beer, hand-crafted cocktails, and a wide-range menu. The area will have a capacity of 250 people inside and on its outdoor patio and will also have a pair of “fan caves” that can host private parties.

It food menu includes custom burgers, wings, ribs, specialty pizzas, tacos, salads, pasta dishes and desserts. The Horseshoe Casino has formed a partnership with four local breweries-DuClaw Brewing Co., Union Craft Brewing, Checkerspot Brewing Corp, and Diamondback Brewing Co. with the goal of coming up with 24 local draft beer options.

Entertainment District at Warner Street

The Maryland casino is also negotiating with the NFL’s Baltimore Ravens, which recently partnered with Caesars Entertainment, and other groups for the establishment of an entertainment district located at Warner Street. The said location is being groomed to have attractions like like Topgolf and a Paramount Concert venue.

Horseshoe isn’t alone in the state with its sports betting expansion. Last April, Live Casino in Hanover opened a $15M sports and social lounge at the heart of the casino. The expansion featured retail sportsbooks which are ready to launch on Live Casino gets the approval to offer such services.

The Isle of Capri Casino in Louisiana Should Open in Late 2022

Lake Charles Casino Louisiana

Louisiana is home to a large and successful casino industry. Many of these properties are located in the Lake Charles area and several have been damaged by recent hurricanes. That includes the Isle of Capri Casino in Louisiana, which has just pushed back its reopening date to the fall of 2022.

Many will be disappointed to hear this venue’s opening date is being pushed back again. The owners seem frustrated with the situation, as well.

Here’s what you need to know about this situation.

Gaming Board Gives Green Light for the Isle of Capri Casino in Louisiana to Reopen on Land

Louisiana’s casino industry is unlike many others around the country. Here, the vast majority of gambling venues are riverboat casinos. This goes back to old laws that required all casinos to be based off-land.

Of course, operating an expensive casino on the water comes with its share of problems. That is particularly true in Louisiana, an area known to attract hurricanes. Many of the gambling venues here have been damaged by these hurricanes over the past few years.

That includes the Isle of Capri Casino in Lake Charles. This property took serious damage back in August of 2020. To make things worse, the Covid-19 pandemic led to serious delays getting this venue operational again. Louisiana’s Gaming Control Board approved a measure to move this casino to land in 2019 and many have been left wondering when this move would take place. The current plan is for the venue to formally reopen to the public in the fall of 2022.

Interestingly, this property is set to be re-branded as the Horseshoe Casino Lake Charles. Isle of Capri Senior Vice President and General Manager Jeff Favre spoke about this move to the media this week.

“I’m excited to bring the iconic horseshoe brand to Lake Charles, it’s legendary,” he said. “We’re building approximately 110,000 square feet. Not all of that gaming of a little over 60,000 of that is gaming space. So approximately 1000 games between slot machines and table games.”  

We’ll offer more information on this move over the next few months.

Louisiana’s Sports Betting Industry is Set to Launch in September

The state of Louisiana is known for having one of the most passionate sporting fan bases in the United States. It’s here that popular teams such as the New Orleans Saints are located. Many have been pushing hard for sports gambling to become legal and regulated here.

Those individuals will be happy to hear that the first sportsbooks are expected to launch here in September. That coincides with the start of the 2021/2022 NFL season. Many analysts expect this season to be the most-bet-on football season in history.

The Louisiana Gaming Control Board recently approved an emergency measure to launch sportsbooks in September. Fifteen casinos around the state will soon have permission to apply for a sports betting license. At least eight have already done so.

Online sports betting will eventually become available in Louisiana, as well. These online betting platforms will almost certainly be more popular than the land-based sportsbooks in the state. It’s an exciting time for sports betting fans here.

There is a chance that the Isle of Capri Casino in Louisiana, soon to be named the Horseshoe Casino, will offer sportsbooks. Stay tuned for updates!

US Casino Revenue Continues to Surge

2020 was without a doubt the worst year in history for the US casino industry. Casinos across the country were shut down for months at a time. Fortunately, things have completely turned around and casino revenue continues to surge throughout 2021.

Louisiana is one state that continues to experience revenue gains. This past July, the casinos in Louisiana managed to bring in $222 million in total gross gaming revenue. The Golden Nugget in Lake Charles was the best-performing property in the state, bringing in $31.5 million.

Massachusetts is also home to a growing casino industry. Three casino-resorts are now operating here. Gross gaming revenue in the state came out to $95.7 million. The Encore Boston Harbor managed to bring in the most money at $59.7 million.

Places like Nevada and New Jersey continue seeing impressive revenue reports, too. The casino companies here are expecting to break an all-time revenue record in 2021.

Are you excited to hear about the reopening of the Isle of Capri Casino in Louisiana? Let us know in the comments section below.

Maryland Casino Gaming Revenue Decreases in November

Closeup of Person Counting Money With a Casino Background
Maryland’s casinos saw a large revenue drop in the month of November. The decrease comes after the casinos had been making good gains following a statewide shutdown due to the coronavirus pandemic.

In a report by the Maryland Lottery and Gaming, the six Maryland casinos generated a gross gaming revenue (GGR) of $130.3M, an amount which is 8.6% lower than the previous month total of $142.7M. The amount is also $10.4M or 7.4% less than the aggregate revenue posted by the Maryland casinos in November 2019.

Maryland Casino Breakdown

$83.43M of the GGR was derived from Video Lottery Terminals (VLT) while table games contributed $146.94M to the total revenue. Live! Casino and Hotel led the way with a VLT total of nearly $30.9M, beating out the $29.8M of MGM National Harbor. As far as table games are concerned, MGM National Harbor was way above the rest with its $25.5M table games intake.

MGM National Harbor remained the top earning casino during the month of November as it raked in a total of $55.3M or 42.4% of the state’s total GGR. Live!Casino and Hotels came in second with its haul of $45M while Horseshoe Casino in Baltimore was a far third with a monthly revenue of $15.25M. Horseshoe Casino though operated at a lower capacity for the most part of November due to new restrictions enforced in Baltimore.

Horseshoe Heavily Affected

After being allowed to open at 50% capacity for two months, the city of Baltimore tightened the restriction to 25% capacity for restaurants, gyms, retailers, and casinos beginning November 12th due to a surge in COVID-19 cases. Being the only Maryland casino in Baltimore, Horseshoe was badly hit by Mayor Bernard “Jack” Young’s decision.

Horseshoe’s November 2020 GGR is an all-time monthly low for the Caesars Entertainment owned Maryland casino. It’s the latest setback for Horseshoe which has struggled since Caesars won the Baltimore license in 2012. The company has been trying to reverse the Baltimore casino’s fortunes in recent years but to no avail.

Caesars Gets One Year Reprieve For Horseshoe Casino Sale

Casino Roulette Table
The Indiana Gaming Commission has granted Caesars Entertainment more time to sell the Horseshoe Casino in Hammond, Indiana.

On Monday, the IGC unanimously agreed to give Caesars a one-year reprieve to sell the Indiana casino. The commissioners sided with IGC executive director Sarah Tait who opined that selling the Horseshoe Casino right now “presents unique challenges” that include the uncertainty over the gaming expansion in illinois and the effects of the COVID-19 pandemic on the gaming industry in general.

She mentioned the lease agreement on the property as one of the reasons. The rapid expansion of the Illinois gaming market on the Chicago area of the region. Likewise, Trait mentioned the pandemic causing uncertainty in the gaming market.

Per Tait:

“Granting relief regarding divestiture timing is in the best interest of the state and local community, and will not negatively impact operations at the property.”

Complying With IGC’s Stipulations

The Horseshoe Casino is one of three Indiana casinos that the gaming giant must sell to comply with the IGC’s stipulations for El Dorado’s $17.3B acquisition of Caesars. The sales was directed to prevent an “undue economic concentration of the state’s gaming industry following the merger.

Last month, Caesars announced the sale of Tropicana Evansville to Twin River Worldwide Holdings for $480M. Earlier this month, the Eastern Band of Cherokee Indians signed a letter of intent that gives the North Carolina tribal nation a 45-day period to buy Caesars Southern Indiana.

Caesars is retaining Harrah’s Hoosier Park and Indiana Grand. The two racinos are the only properties that are situated less than an hour away from Indianapolis. Aside from that, state legislature has allowed the two tracks to offer table games this year. Caesars is planning to infuse a combined $60M to add more table games to both spots

Biggest Casino in the State

The Horseshoe Casino is the biggest Indiana casino. Located less than a mile from Chicago and the state line of Illinois, it has 2,135 electronic games and 1,105 table positions which are the most by any Indiana casino.

Per the Gaming Commission’s annual report, the Horseshoe Casino generated a revenue of $309.3M during the fiscal year. That amount is $85M more than the income of the second-largest Indiana casino. It also generated $99.8M in taxes which was nearly double the $51.1M paid by the Indiana Grand.

Horseshoe’s $24.9M in local development agreement funding outpaced the next closest Indiana casinos combined. Hotel Lawrenceburg, Tropicana, and Ameristar East Chicago which have a total of $23.1M.