Caesars Entertainment to Open Hotel Chain in India
Caesars Entertainment has plans to open hotels in India soon. Since India does not allow overseas companies to take part in the gaming business inside India, the world’s largest casino company has plans to open business in India by opening luxury hotels. Caesars Entertainment also has plans to enter the entertainment business by hosting concerts, stand-up comedy, musicals, and also running local Bollywood-centric events.
Gambling is banned in most states in India, although it is legal in some areas, such as Sikkim and Goa. These areas have issued only limited licenses to run the casinos that are currently available. Since foreign investors are not allowed direct investment in gambling and casinos in India, Caesars Entertainment will be opening non-gambling entertainment. In other countries, the hotel chain offers upscale hotels and entertainment, along with a number of golf resorts.
Caesars Entertainment has plans to open up a possible maximum of 15 hotels in India over the next 10 years. Over the past year, the company has already begun talks regarding possible real estate for the hotels.
The head of Caesars Entertainment Hospitality for South Asia, Neera Chanani, said: “In the non-gaming space we will focus on hotels and convention centers and building entertainment destinations within or adjacent to them.”
Neera Chanani also said: “In the entertainment space one of the major focus areas will be Bollywood. We are looking to create content that is specific to the Indian market.”
Not only will Caesars entertainment be looking for locations that are near gambling destinations, but also in some of the larger cities, such as Mumbai, Delhi, and Bangalore.
The Chief Executive Officer of the GenReal real estate consultancy, Vivek Dahiya, said: “In case of non-gaming entertainment, this could be the right time for Caesars to evaluate and introduce new concepts in India. Though the market is not evolved yet and is still unstructured, with the success of Formula 1 (Grand Prix), Kingdom of Dreams (alive entertainment destination), bowling destinations in the country, it is clear that Indians are willing to experiment beyond films and F&B and spend money.”
The Las Vegas Sands Corp’s CEO and President, Michael A. Leven, has said that his company is also open to possible operations in India, but that the company would only consider an area that has good infrastructure, such as Mumbai and Delhi.