Caesars Entertainment Acquires 92 Percent Stake in Grand Bazaar Shops for $66 Million
TL;DR — Caesars Entertainment acquired a 92% stake in the Grand Bazaar Shops for $66 million on May 1, intending to let most leases expire while retaining Ole Red and Bottled Blonde. The criticized retail complex sits in front of Horseshoe Las Vegas and has long drawn executive interest for demolition. The move overlaps with Fertitta’s pending $17.6 billion acquisition of Caesars.
SCCG Take — Full ownership grants Caesars unilateral control over the entrance footprint without third-party lease constraints. The timing with the Fertitta transaction leaves open questions on capital priorities for any redevelopment.
Caesars Entertainment has purchased a controlling interest in the Grand Bazaar Shops, the two-acre retail complex located directly in front of the Horseshoe Las Vegas. The acquisition, completed on May 1, gives the operator full ownership and the stated intention to let all existing leases expire over the next several years with two named exceptions.
The deal for the 92 percent stake previously held by JGB Vegas Retail totaled approximately $66 million, inclusive of $10 million in deferred consideration. It received limited public notice at the time despite the size of the transaction. As reported by Casino.org, Caesars executives have expressed interest for years in gaining control of the site specifically to enable its demolition.
Site History and Criticisms
The Grand Bazaar Shops opened on Feb. 26, 2015 on land previously occupied by the iconic moving-walkway entrance to Bally’s. The development featured dozens of small storefronts and kiosks in a maze-like layout modeled on traditional Middle Eastern bazaars. In practice it drew consistent criticism for dense signage, cheap trinket booths, quick-service restaurants and an overall hodgepodge aesthetic that appeared designed to monetize every square foot at the expense of visual appeal.
Full ownership removes the need for Caesars to negotiate with outside leaseholders on any redesign of the Horseshoe Las Vegas entrance. The two leases explicitly spared from expiration belong to the nightclub and restaurant concepts Ole Red and Bottled Blonde.
Overlapping Corporate Transaction
The Grand Bazaar Shops acquisition coincides with a larger shift at Caesars Entertainment. In May, hospitality investor Tilman Fertitta reached an agreement to acquire the company in a $17.6 billion deal that would take it private and includes roughly $11.9 billion in assumed debt. Investors are expected to vote to approve the transaction on Sept. 22.
No public statements have detailed how the Fertitta acquisition might shape decisions on the newly controlled site, and Caesars has issued no comments on redevelopment plans.
Reporting: Casino.org News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Full control means Caesars can finally tear down the eyesore blocking Horseshoe's entrance—question is whether Fertitta writes the check.
We've watched this property languish for a decade as a revenue-per-square-foot experiment gone wrong. The timing—just ahead of Fertitta's takeover—tells us Caesars wanted control locked before the sale closes. Real estate repositioning on the Strip is capital-intensive, and priorities shift fast under new ownership. This is a signal, not yet a plan.
- $66M purchase gives Caesars unilateral control; most leases set to expire, Ole Red and Bottled Blonde stay
- Grand Bazaar opened 2015, widely criticized as cluttered, low-end entrance blocking Horseshoe visibility
- Deal closed May 1, overlaps Fertitta's $17.6B pending acquisition; no redevelopment timeline announced
SCCG angle: SCCG works with retail, F&B, and entertainment brands navigating casino portfolio shifts exactly like this. If Caesars or Fertitta moves to reposition that footprint, our network includes the venue operators, design teams, and leasing advisors who'll be in the room when it happens.
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