Caesars Entertainment Corp. is known for its elegance, chicness and the way it builds amazing entertainment spaces all over the world. This time around, the company has set its foot in Asia. They also announced that they would be building the first and largest ever luxury resort project in India which would cost to the tune of $473 million. It would begin with the construction of a new Caesars palace Hotel. Though the hotel is long associated with casinos, this one is not going to be a casino. However, the company hopes for an elusive gaming license, whatever that is supposed to mean.
The Caesars Palace Longmu Bay project would provide the necessary attention to China and its Hainan province, which has seen several luxury development projects even in the past. The company is known for building branded hotels, resorts, villas and casinos all over the world. The company found it difficult to secure a gaming license in Macau, which is perhaps why they have been targeting non-gaming sectors aggressively all over Asia. They had bought land worth $500 million in Macau when the Chinese government told them that they would not get the licenses anyway.
Thus, the company has begun to focus on hotels and restaurants which may soon end up becoming popular and drive traffic to their casinos in the US. They would also build hotels in second tier cities like Chengdu and others in China, as they see these cities as important additions to their addresses. I would say, that’s a great idea.