Horseshoe gaming holding corporation

In , Jack signed over his interests to his sister and started looking elsewhere for investment opportunities. Prior to the dispute, he had managed to secure the rights to use the Horseshoe name, and he decided to apply this to a riverboat casino in Bossier City, Louisiana. Horseshoe Gaming LLC was formed in , and the 46, square-foot paddleboat Queen of the Red made its debut in July along with a nearby hotel and pavilion. Another casino in Robinsonville, Mississippi, would follow, and both centers promised the most generous rules and payouts in the region.

The Horseshoe habit of offering 10x odds on craps was unheard of at the time, but when competitors tried to match it, Binion kept going up until he reached x odds.

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All trademarks, service marks and copyrights are property of their respective owners. Please log in to access this feature. Don't have an account? Sign up today! The acquisition is not subject to financing, and Harrah's expects to maintain its investment-grade credit rating. The purchase agreement calls for Binion to provide guidance on both the integration of the Horseshoe properties into the Harrah's network and expansion of the Horseshoe brand into other markets.

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Improvements at Horseshoe Casino Center involved additional gaming space and upgraded dining options. The company relocated central engineering and a buffet in the casino area to an adjacent building, opening space for slot machines and ten table games in the casino. The buffet was converted to an international theme and expanded to accommodate patrons. The company also built infrastructure for the possibility of building a 1,room hotel tower. The casino catered to the high-end Chicago market with a luxurious gaming space, featuring marble and wood grain accents and shades of terra cotta, cream, and black.

On May 4, , Horseshoe Gaming celebrated the renovation and new name with a grand opening gala event for VIPs and the media, featuring a variety of headline entertainment from around the world.

Changes at the Hammond site resulted in a significant increase in revenues at the casino, particularly after dockside gaming opened in August Horseshoe Gaming obtained license renewals for all of its properties. In Mississippi, where Horseshoe Casino Center remained the most profitable of 29 casinos in the state, the company was granted license renewal in September Horseshoe Gaming casinos continued to operate in the Binion family tradition of providing "good food, good service, and good gaming.

Completion of the acquisition required approval of gaming boards in Mississippi, Louisiana, and Indiana, as well as a waiting period required by antitrust law.

In January , Harrah's announced that it also intended to acquire the troubled Horseshoe property in Las Vegas owned by Binion's sister. As the likely new owner of the Horseshoe properties, Harrah's hoped to profit from that company's good reputation and World Series of Poker tournament renown. The Binions' role in the company's future, however, was uncertain. James Press, As consumers, we often take for granted all the hard work that goes into building a great company.

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