Caesars Entertainment (CZR) is doing some rebranding, as the casino resort Bally’s Las Vegas will be renovated in the spring to become Horseshoe Las Vegas.

The first Horseshoe casino in Las Vegas was located in downtown more than 70 years ago in what is now known as Binion's Gambling Hall & Hotel.

“Bringing the Horseshoe brand back to life in Las Vegas allows us to celebrate both our history and our future,” Sean McBurney, regional president of Caesars Entertainment, said in a statement. “2022 starts a new era for the Caesars Entertainment empire in Las Vegas, one being heralded by the return of Horseshoe.”

Caesars said the 44-acre casino resort transformation includes a renovation of the exterior, new entertainment and food and beverage options, and reimagined casino and public spaces.

Bally’s currently consists of two 26-story hotel towers and more than 2,800 guestrooms. It also holds nearly 70,000 square feet of casino space, including a race and sportsbook with stadium-style seating.

Renovations are expected to be completed by the end of 2022, Caesars said.

The multimillion-dollar investment will take on a “handcrafted feel” with tooled leather and gold horseshoe décor.

Caesars founded the Horseshoe brand in 1951, with casino properties under the moniker located in Baltimore, as well as Illinois, Louisiana, Iowa and Mississippi.

“At Horseshoe, it's all about the gambler. Since 1951 Horseshoe Casinos have been home to the best odds, highest limits and biggest jackpots. So, it's fitting that we bring Horseshoe back to Las Vegas, and right on the Las Vegas Strip,” said Jason Gregorec, senior vice president and general manager of the property.

The Horseshoe casinos are known for no-limit betting. It will host the 53rd World Series of Porker May 31 through July 19. The poker series was first played at the original Horseshoe casino in 1970. The poker tournament was previously held at the Rio.

As of Wednesday at 1:01 p.m. ET, shares of Caesars Entertainment were trading at $79.43, up $2.14, or 2.76%.

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