Casino Owners Ready to Buy Higbee Building

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CLEVELAND — The owners of the Horseshoe Casino in Cleveland say they’re ready to move forward with buying the historic, former Higbee building in downtown Cleveland.

Rock Gaming and Caesars says it has raised $570 million to refinance its existing $460 million credit. The company needs $79 million to buy the building.

The financing is awaiting final Ohio regulatory approval.  Rock Gaming says the improvement in interest rates will result in a higher profit for the deal.

The old Higbee building currently houses the Horseshoe Cleveland Casino and is owned by Forest City Enterprises.

*For extended coverage on the Horseshoe Casino, click HERE.

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