Caesars Entertainment increases its stake in Horseshoe Baltimore to 76%
The Nevada-based hotel and gambling company Caesars Entertainment has acquired additional shares in Horseshoe Baltimore. The seller was one of the minority shareholders, whose name was not disclosed. Now 76% of all shares of the Baltimore resort are in the same hands.
The happy owner of the increased block of shares immediately boasted about the new acquisition but did not advertise the terms of the deal. Also, the majority shareholder, who further strengthened his position at the helm of the casino, did not dwell on his further plans related to the development of the institution.
Horseshoe Baltimore, meanwhile, is a solid asset with over 1.3 million square feet of gambling space. There is only one larger gambling establishment in the entire state of Maryland. Proper management of such property can bring unprecedented benefits to the owner.
In an information vacuum, experts can only guess how Caesars Entertainment will act in the future. It is only known that the company wanted to buy shares in this particular casino since the distant 2014. There are versions that the deal may be a reaction to the growth of the gambling industry in Maryland, the desire to get a bookmaker’s license here, or even the consolidation of a stake before selling it. It is unclear whether the majority shareholder will continue to expand in an effort to own the casino alone, but it can be assumed that the management will do what will be beneficial in a constantly changing situation.