First, the casino to which you refer hasn't been known as the Horseshoe for years and now, it can't accurately even be called Hotel. It's just Binion's Gambling Hall.
The 99 rooms in the original Binion's, plus another 266 rooms in the old Mint tower, closed on December 14, along with the famous coffee shop in the basement and all keno operations. The casino, sports book, and Ranch Steakhouse on the top floor of the tower remain open.
The decision to close the hotel rooms and coffee shop came as a result of economic conditions, especially the significant decrease in room rates and occupancy, in Las Vegas. A Binion's spokesperson said, "We had to make some difficult decisions in order to keep the rest of the property operational." As to its longer-term future, only time will tell.