One of the most criticized locations on the Las Vegas Strip is on its way out, as reported by Casino.org’s Vital Vegas.
Caesars Entertainment has acquired a controlling interest in the Grand Bazaar Shops, taking full ownership of the two-acre retail complex in front of the Horseshoe Las Vegas. As reported by Vital Vegas, the company intends to allow existing leases to expire over the next several years, with exceptions for Ole Red and Bottled Blonde nightclubs/restaurants.
Public filings show that on May 1, Caesars paid approximately $66 million, which includes $10 million in deferred consideration, to purchase the 92% stake previously held by JGB Vegas Retail. The acquisition went relatively unnoticed despite its significant size.
Bizarre Shops
The Grand Bazaar Shops opened on February 26, 2015, on the site once occupied by Bally’s distinctive moving-walkway entrance. Marketed as an outdoor marketplace inspired by Middle Eastern bazaars, it featured numerous small storefronts and kiosks arranged in a maze-like layout.
In reality, the development seemed more like an effort to maximize every inch of the resort at the expense of aesthetics. Known for its cluttered signage, inexpensive souvenir stands, fast-food outlets, and nightlife venues, the Grand Bazaar Shops left a visual impact.
Vital Vegas has consistently reported Caesars executives’ interest in gaining control of the area for potential demolition.
The company’s plans for the space remain speculative, with the acquisition granting freedom to redesign the Horseshoe entrance without external negotiations.
Potential redevelopment plans may align with broader changes at Caesars Entertainment, following a $17.6 billion agreement by hospitality investor Tilman Fertitta to acquire the company, taking it private. This includes assumed debt of approximately $11.9 billion, pending investor approval on September 22.
Public details on how the Caesars acquisition could impact decisions regarding the Grand Bazaar Shops are scarce, with the company maintaining silence on its future plans.