Jack Binion’s Steak Coming to Bally’s Las Vegas During WSOP

Posted on: May 24, 2022, 02:06h. 

Last updated on: May 24, 2022, 02:24h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Jack Binion’s Steak — one the more venerable names among casino steakhouses — is coming to Bally’s Las Vegas next month during the World Series of Poker (WSOP).

Jack Binion’s Steak
Jack Binion’s Steak at Horseshoe Baltimore. The restaurant is coming to the Las Vegas Strip. (Image: Baltimore Sun)

The eatery is replacing BLT Steak, which was closed during the early days of the coronavirus pandemic, and is part of a broader overhaul of the Strip integrated resort. That revamp includes operator Caesars Entertainment renaming the property as the Horseshoe.

In 2020, Caesars sold the Bally’s brand to the company previously known as Twin River Worldwide Holdings (TRWH) for a reported $20 million. The buyer is now known as Bally’s, but the Las Vegas venue retained that name per a licensing agreement between Caesars and Twin River. With the Horseshoe name on its way to the Strip, it makes sense for Caesars to tie the flagship eatery at the venue to the Binion’s name.

Named after Jack Binion, former president and chief operating officer of Horseshoe Casino and son of original Horseshoe Club owner Benny Binion, the restaurant ties into the rich history of Horseshoe,” according to a statement.

The release doesn’t mention exactly when the steakhouse will open, but the 53rd WSOP starts on May 31 and runs through July 20. Bally’s/Horseshoe and Paris are hosting the prestigious event.

Fans of the famous Top of Binion’s Steakhouse at Binion’s Gambling Hall in downtown Las Vegas need not fret. That venue will not be affected be the new restaurant on the Strip.

Binion’s, Caesars Have Long History

The original Binion’s Horseshoe opened in Las Vegas in the early 1950s. Binion’s and Caesars have storied gaming industry together.

In 2003, Harrah’s Entertainment announced the $1.45 billion acquisition of Horseshoe Gaming Holding Corp. The following year, Harrah’s purchased Caesars for $5.2 billion. More than six years later, the name of the parent company was changed to Caesars Entertainment.

The current version of the gaming company, also known as “new Caesars,” came about by way of Eldorado Resorts acquiring the operator in 2020 for $17.3 billion and retaining the name.

As for the restaurant relationship, it’s extensive. Jack Binion’s Steak is the marquee steakhouse in Caesars’ properties in Indiana, Iowa, Louisiana, and Mississippi.

Horseshoe Brand Has New Lease on Life

It’s possible more Jack Binion’s Steak restaurants will appear across the Caesars portfolio of casino-hotels because the operator is breathing new life into the Horseshoe brand.

Currently, Caesars operates five venues under that brand — one apiece in Indiana, Iowa, Louisiana, Maryland, and Mississippi.

However, that number is slated to grow in exponential fashion. Not only is Horseshoe replacing Bally’s on the Las Vegas Strip, it’s going to the be the mark on the venue currently known as Isle Casino Hotel in Black Hawk, Colo.

In February, Caesars said it’s renaming and refurbishing Lumière Place Casino and Hotel in St. Louis, and Horseshoe will be applied there.