Caesars Bringing Horseshoe Name to Colorado Casino

Posted on: March 24, 2022, 10:24h. 

Last updated on: March 24, 2022, 10:45h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Caesars Entertainment is again trotting out its storied Horseshoe brand, announcing today it’s renaming the Colorado casino-resort currently known as Isle Casino Hotel Black Hawk.

The renaming, which is scheduled to take place this summer, is part of a broader enhancement of the venue. The gaming company said the property will remain open as alterations are made.

The transformation into the legendary Horseshoe will include a renovated exterior with Horseshoe signage, newly refreshed rooms, a reimagined casino floor and more,” according to a statement issued by Las Vegas-based Caesars.

The Isle opened in late 1998, and at that time, was the biggest casino-hotel in Black Hawk, Colo. It’s located next to its sister property — the Lady Luck Black Hawk. Both properties joined the Caesars portfolio by way of the 2020 acquisition by Eldorado Resorts that created “new Caesars.”

Caesars Rejuvenating Horseshoe Brand

The Colorado announcement marks the second time in as many months that Caesars said it’s applying the Horseshoe brand to an otherwise-named gaming property.

Currently, Caesars operates five venues under that brand — one apiece in Indiana, Iowa, Louisiana, Maryland, and Mississippi.

With the Colorado news, Caesars will eventually have eight Horseshoe casinos, including the aforementioned St. Louis venue and with Bally’s on the Las Vegas Strip transitioning to that name as well.

Tapping into Horseshoe’s association with high limit poker, “Isle Casino Hotel Black Hawk’s poker room will also undergo a transformation into the property’s new WSOP Poker Room,” adds Caesars.

Good Time to Change Things Up in Colorado

Caesars’ decision to enhance and rename its Black Hawk venue comes as newly spruced up supply emerges in that market.

Monarch Casinos’ eponymous, newly enhanced venue in that town is ramping up and is viewed as arguably the most posh of the gaming properties there. In the wake of changes to the state’s gaming laws, Colorado operators are looking to keep more locals staying at in-state casinos, while luring higher- end clients that are likely to stay for multiple nights. New or improved venues help with those objectives.

In November 2020, Colorado voters approved the end of the $100 cap on table game wagers, as well as the addition of new games, such as baccarat and pai-gow tiles. Analysts believe those moves could lure a higher-end clientele to the state’s casinos, create more overnight business, and keep more of the state’s gamblers home and away from Las Vegas.