Cincinnati’s Horseshoe Casino not likely to be affected by Caesars’ bankruptcy
December 16th, 2014
An article found in Sunday’s (12/14/14) Cincinnati Enquirer reports that the parent company of Cincinnati’s Horseshoe Casino, Caesars Entertainment Corp., is considering filing for Chapter 11 protection in 2015. Caesars Entertainment Corp. has already closed 3 casinos across the globe but says others are still profitable. Citing a decrease in gambling habits among Americans and an increase in competition due to more states legalizing gambling, Caesars has overextended itself and is having a hard time paying back its debt. According to the article, Caesars Entertainment Corp. only owns a minority stake in Cincinnati’s Horseshoe Casino so operations are not like to be affected. Only time will tell. It will be an interesting story to keep up with.