Caesars Entertainment Corp. has broken ground on Caesars Palace Longmu Bay in Hainan, China, a 5-star, 1,000-key luxury resort that marks the first major venture of Caesars Global Life, a non-gaming division created to develop and manage branded luxury hotels, resorts, residences, villas, retail and entertainment destinations worldwide.
For Caesars Palace Longmu Bay — expected to open in 2014 — Caesars is partnering with Guoxin Longmu Bay Investment Holding Co. Ltd., which is developing the area for global tourism. The first development phase covers approximately 1.9 square miles (5 square kilometers) with a total investment of about US$5.6 billion. More than US$469 million investment is planned for Caesars Palace Longmu Bay.
Caesars’ goal is to develop 25 hotels and resorts in China over the next five years.
