Hoping to regain lost market share due to competition and crime, Caesars Entertainment announced Horseshoe Casino Baltimore will kick off a redevelopment project called Walk @ Warner Street, featuring an entertainment and nightlife district.
The area extends from the casino to M&T Bank Stadium, home of the Baltimore Ravens football team, and already includes a Topgolf driving range. The Paramount Baltimore concert venue, retail stores and the Yards Social Bar will open next year.
A hotel is planned but isn’t expected to be built for at least two years, said Horseshoe Casino Baltimore General Manager Randy Conroy.
“It was important for us to get Topgolf and the Paramount up and running. Once those assets get going and we see what happens there, it will spur on additional development,” he said.
Meanwhile, the $442 million Horseshoe Casino Baltimore continues to lag behind MGM National Harbor and Live! Casino Hotel Maryland in revenue. MGM National Harbor opened in December 2016; it offers 308 hotel rooms.
The Live! casino opened in June 2012 and added a 310-room hotel in June 2018. In 2015, the first full year in operation, Horseshoe Casino Baltimore took in $289.4 million from slots and table games and set its all-time revenue record in 2016 at $324.3 million. Since then, revenue has continued to fall to $208.8 million in 2021, according to state records.
Besides competitors, Horseshoe Casino Baltimore has suffered from the city’s high crime rate and blight along the quarter-mile stretch from the casino to the stadium. However, Caesars has been purchasing and demolishing distressed properties in the area.
