The screens flash. The machines chime. The chandeliers twinkle. There are free soft drinks to keep you caffeinated, a phone-charging station at the base of your slot machine and not-so-discreet cameras tracking your every move.
At the Horseshoe Casino in Baltimore, the only thing missing is a crowd of gamblers.
Now open for a decade, the casino was supposed to anchor a glittering sports entertainment district near downtown. Instead, cars hurtled through an industrial area along a busy roadway in front of a casino that has been performing worse than in any previous year. It employs about one-third as many people as in its first year.
Horseshoe Casino was billed as a $442 million development, equivalent to $586 million today, when it opened August 2014 on the site of a former chemical factory. But its gambling revenue peaked around 2016 and began a long, steady decline, according to state data. Since its high point, in inflation-adjusted dollars, gambling revenues are down by two-thirds. A deal last year valued the casino at less than $273 million.
Nevada-based Caesars Entertainment Inc. owns Horseshoe and has sunk hundreds of millions of dollars into a bet that the site will lure more gamblers. The Baltimore site is one of the biggest, by square footage and total games, of Caesars’ more than 50 casinos across the country, outside of Las Vegas.
Since 2021, Caesars has paid $121 million to buy out its partners and take full ownership of Horseshoe. Last year, the company paid another $267 million to retire a loan on the property. This summer, Caesars brought in new leadership to run the casino. Caesars’ most recent quarterly earnings report shows it has more than $12.4 billion in debt.
One gaming industry expert pointed to the casino’s location in a largely industrial area, along with perceptions of Baltimore crime as possible reasons for the Horseshoe’s struggles. Management also faulted years of underinvestment in the property.
Representatives of Caesars did not respond to requests for comment. Attempts to reach the current and former
How has the surrounding area around the Horseshoe Casino in Baltimore contributed to its current state?
**Interviewer:** Welcome back to the show. Today we’re discussing the Horseshoe Casino in Baltimore, which recently celebrated its 10th anniversary. While the casino boasts impressive amenities like thousands of slot machines, numerous table games, and even a dedicated poker room, it seems something is amiss. Joining me now is [Guest Name], a Baltimore resident and frequent casino visitor, to share their insights. [Guest Name], thanks for being here.
**Guest:** Thanks for having me.
**Interviewer:** You’ve seen the Horseshoe Casino evolve since its opening. What’s your take on its current state?
**Guest:** It’s definitely not the bustling hub of activity it was initially envisioned to be, that’s for sure. Back in the beginning, the place was packed, buzzing with excitement. It felt like the start of something truly special for Baltimore. These days though, it’s noticeably quieter.
**Interviewer:** The article mentions a significant decline in gambling revenue compared to its peak around 2016. What do you think factors into this downturn?
**Guest:** It’s a complex issue. Some people say the initial hype has faded, and competitors in neighboring states have drawn away some patrons. Also, Baltimore itself has faced challenges, and perhaps the surrounding area hasn’t developed as a vibrant entertainment district as initially planned [[1](https://www.worldcasinodirectory.com/casino/horseshoe-casino-baltimore)].
**Interviewer:** The article also highlights the impressive physical features of the Casino, from the flashing screens to the plush amenities. Yet, it seems these haven’t been enough to attract crowds. What’s your perspective on that?
**Guest:** It’s true, the Horseshoe Casino is aesthetically impressive. But I think people want more than just a pretty space. They want an engaging atmosphere, a sense of community, and perhaps a broader range of entertainment options beyond just gambling.
**Interviewer:** [Guest Name], thank you for lending your perspective on this. It seems the Horseshoe Casino faces an uphill battle to reclaim its former glory days. We’ll continue to follow its trajectory in the coming months.
