Horseshoe Casino Cleveland developers acquire adjacent hotel

Howard Stutz

December 13, 2011 - 8:56 pm

A couple of events took place surrounding the planned Horseshoe Casino Cleveland, which is being developed by joint venture partners Caesars Entertainment Corp. and Ohio-based Rock Gaming LLC.

The partners announced agreements to purchase the Ritz-Carlton Cleveland and an attached five-story commercial office building for $36.5 million. The 205-room hotel and 119,000 square foot office space are adjacent to Horseshoe Casino Cleveland.

The Horseshoe is expected to open in next March.

The Ritz-Carton opened in 1990 and its central business district location provides convenient access to Cleveland’s downtown sports, entertainment, cultural and dining attractions.

“Adding a luxury hotel and additional casino-support space to our portfolio of companies here is a meaningful opportunity for us as we prepare to open Ohio’s first urban casino in the heart of Cleveland,” said Nate Forbes, a principal of Rock Gaming.

Rock Gaming Chairman Dan Gilbert is the majority owner of the NBA’s Cleveland Cavaliers and founder of Quicken Loans Inc.

Also, the Horseshoe Casino Cleveland launched the second formal phase of its job recruiting efforts to hire a 1,600-person workforce. The Horseshoe Casino Cleveland has committed to hire at least 90 percent of its workforce from Northeast Ohio.

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