The world’s largest casino operator is planning to develop a string of resorts across China over the next five years.
Caesars Entertainment Corp will invest approximately US$470 million in a 1,000-room resort in Hainan province, China, as it looks to capitalise on rising tourism in emerging markets. The five-star Caesars Palace Longmu Bay in Hainan will provide a foundation for Caesars’ expansion throughout the Asia-Pacific region.
Ceasars Chief Executive Officer Gary Loveman, told AP; “This is the first step in the development of our Caesars brand in China and India.”
The resort will offer culinary experiences with celebrity and Michelin-rated chefs and Vegas-style shows at two Colosseum entertainment venues. The luxury resort will also include a 36-hole championship golf course, marina, spa, retail and other amenities. The Hainan property is due to open in 2014 and will be the first of 25 resorts planned for development in China over the next five years.
The company owes its reputation to gambling but is building on the known brand name to create a chain of resorts in non-gaming destinations in Asia. The project will be managed by Caesars Global Life, a non-gaming division created to develop and manage branded luxury hotels, resorts, residences, villas, retail and entertainment destinations around the world.
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