Horseshoe owners to pay $79M for Higbee building
The owners of the downtown Cleveland casino are planning to pay $79 million for their building on Public Square.
Caesars Entertainment disclosed the sale price of the former Higbee’s department store building in a conference call.
Caesars is a minority partner in Rock Ohio Caesars and manages the Horseshoe Casino Cleveland. The building had been leased from the owner, Forest City Enterprises.
Approval of the deal by state regulators will clear the way for construction of a skywalk from the casino parking garage to the 14-story building. The casino occupies the lower level and first three floors of the building.
The casino in Cleveland is one of four voter-approved gambling halls in Ohio.