Las Vegas has arguably as much history as any city in comparison to the length of time it has existed. Certainly, the great cities of Europe and Asia have a deeper history as do cities like Cairo or Jerusalem, which trace their existence to biblical times, but since its birth in 2005, Las Vegas has packed a lot of living in, so to speak.
Sin City, of course, has a nefarious past full of, let's call them colorful characters. Yesterday's actual criminal, however, becomes today's romanticized historical figure that a steakhouse gets named after.
Caesars Entertainment (CZR) owns a variety of casino brands that operate on the Las Vegas Strip. They include the company's self-named Caesars Palace, Flamingo, Harrah's, The Linq, and Bally's, the name of another corporation that wants its moniker back to put it on The Tropicana, which Bally's Corporation (BALY) recently purchased.
That move led to Caesars making a deal to rebrand its Bally's Casino on the Las Vegas Strip under its Horseshoe Brand, which has a long history in Las Vegas. Now, in addition to bringing the Horseshoe to the Strip, Caesars has plans to rebrand another property under the old-school moniker.
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Horseshoe Hits a New City
The Horseshoe brand traces it history to downtown Las Vegas and legendary Las Vegas figure Jack Binion. That property, located on Fremont St., now carries the Binion's name, and there has not been a Horsehoe in Vegas for decades. That will change when Bally's gets rebranded, but Caesars has also decided to bring the classic name to a new city.
"Since 1951 Horseshoe Casinos have been the home of the best odds, highest limits, and biggest jackpots," Caesars said in a press release. "Started by a gambler for gamblers, at its heart, Horseshoe is about making a gaming experience that is right for the gambler. Over the years, as the brand expanded to markets across the country, Horseshoe has stayed true to its heritage, holding on to the thrilling spirit of no-limit betting."
Now, Caesars plans to convert the Lumiere Palace Casino & Hotel in Saint Louis into Horseshoe Saint Louis. The revised casino and hotel should be opened by Spring 2022.
"We're thrilled to usher in a new era and bring the historic Horseshoe to Saint Louis," said Brian Marsh, general manager of the property. "Horseshoe Saint Louis will bring a new look and introduce some exciting new gaming offerings for our guests. We couldn't be prouder to bring this legendary brand, known for poker and gaming, to our guests here at Lumière Place."
Why Is Caesars Expanding the Horsehoe Brand?
Taking a brand people will soon be able to experience on the Las Vegas Strip and bringing versions of it to other markets, makes sense from a branding point of view. The company has already done that with its Harrah's brand. Essentially, by building on what it offers in Las Vegas, the company can export some of the Las Vegas mystique to markets that lack Sin City's cache.
Basically, Caesars wants to extend its relationship with its customers to wherever they may be. That's relatively easy for it to do given the incentives offered by its Caesars Rewards loyalty program. Being able to earn credits in that program will also entice regular gamblers to stay in Caesars properties, especially when they use familiar names.
That helps lure business from regional casino operators, partly through the rewards incentives and partially by offering a familiar brand. Horseshoe Baltimore, for example, has a Gordon Ramsay Steakhouse (like Caesars Paris on the Las Vegas Strip) and other Vegas-style dining options, including an Asian restaurant featuring food from multiple nations.
The new Horseshoe will also have a little touch of Las Vegas.
"The Horseshoe spirit is already alive in the property's new WSOP where legends never fold. The brand-new, action-packed WSOP is the pulse of poker with 10 tables featuring Texas Hold'EM, and many others. Tournaments are expected to return in the near future," Caesars said.
