Even though Harrah’s Entertainment announced last week it had signed a definitive agreement to purchase Binion’s Horseshoe, the once-proud casino in downtown Las Vegas will remain closed for at least another month.
Harrah’s officials said last week they expected the deal to close before the end of the first quarter (March 30). A telephone hot line advised customers who had hotel reservations within the next 30 days that they should make other arrangements.
Subject to regulatory approval, Harrah’s "plans to re-open the property as soon as practicable," said Gary Loveman, Harrah’s president and CEO.
"We will immediately begin assessing the appropriate level of staffing necessary to ensure the viability of the property," Loveman said. "Current Binion’s Horseshoe employees will be given priority in re-staffing the facility, which has been closed since January 9. We fully intend to abide by terms of the property’s union contracts."
Loveman said once Harrah’s receives employment information from the Horseshoe, Harrah’s will contact current Binion’s employees to discuss schedules and other details.
"We are enthusiastic about acquiring a world-renowned property that has played such an important role in the rich history of gaming," Loveman said. "We are especially excited about our plans to host the 35th annual World Series of Poker at the Horseshoe on its originally scheduled dates this spring."
The World Series is scheduled to begin on April 22.
Binion’s Horseshoe suffered financial problems almost immediately after Jack Binion, Benny Binion’s son, left Nevada.