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CLEVELAND, Ohio -- Crews Monday night began transforming Cleveland's Horseshoe Casino to the new Jack Casino.

The casino closed its doors at midnight so crews could begin to swap out more than 407,000 new chips along with 31,000 decks of cards and 3,600 dice.

Plus, they'll change 200 signs and will install new felt on the gaming tables.

It's all part of the transition of operations from Caesars Entertainment to Rock Gaming.

"It's a lot to do with a 40-hour period," said Mark Tricano, senior vice president of operations for Jack Casino. We have operation centers on property that will make sure everybody is doing what they need to do in the right time." The revamp comes as the Cleveland casino makes less money each year.

According to figures from the Ohio Casino Control Commission, adjusted gross casino revenue fell from $242.6 million in 2013 to $212.7 million in 2015.

It has made $74.3 million in the first four months of 2016.

The falling revenue and market factors led to a drastic shakeup in plans for a $600 million Phase II Casino that was to be built along Huron Road, between Tower City and Canal Road, stretching toward Quicken Loans Arena.

"At this point, there's no immediate plans to develop a casino in that space, and it's really more of a plan for potentially mixed use development," said JACK Entertainment Senior Vice President of Operations Mark Tricano.

When voters approved casino gaming in Cleveland in 2009, the casino at the former Higbee's building was touted as a temporary location until the larger Phase II casino could be completed.

As recently as 2013, Dan Glbert, founder of the the Rock Ventures Companies which includes JACK Entertainment, publicly maintained that a second casino would be built.

JACK Entertainment CEO Matt Cullen provided the following statement to Fox 8 News: “The Rock Ventures Family of Companies is committed to Cleveland for the long term and we are focused on forward-thinking initiatives that will accelerate the Ohio gaming market.