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Casino In Bangalore – Casino juniper Caesars Entertainent is entering non-profit business like luxury hotels and entertainment business in India. (AP Photo)
NEW DELHI: Caesars Entertainent, the world’s largest casino, is entering India into non-commercial businesses such as luxury hotels and entertainment businesses such as organizing Bollywood-centric events, concerts, plays, drama and entertainment. – Crown.
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Las Vegas-based Caesars Entertainment, which owns 50 hotels and casinos and several golf courses worldwide, plans to open up to 15 hotels in India within a decade and has already started talks with half a dozen residential properties. 9 billion dollars is said.
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“We have spent the last year exploring the business in India and there are good opportunities,” said Neera Chanani, head of South Asia at Kaysars Entertainent Hospitality.
“In the loss-making areas, we will focus on hotels and convention centers and build entertainment venues within or near them,” he said.
The company plans to integrate its international brands and properties, such as the luxury Caesars Hotel and Caesars Palace, into local businesses.
“The entertainment space will be one of the areas of focus for Bollywood. We are looking to create something unique about Indian art,” Chanoni said. Caesars is in talks with many agency companies as well as production houses in India for collaboration. Experts say that Caesar’s entry into the country is good.
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“For non-commercial entertainment, this could be the right approach for Caesars to evaluate and introduce new ideas in India,” said Vivek Dahiya, managing director of real estate consultancy GenReal. . “Although the art has not yet developed and has not yet taken shape, with the success of Forula 1 (Grand Prix), Kingdo of Dreas (live brands), football parks in the country, it is clear that Indians are ready to experience something beyond. movies. and F&B and pay one,” he said.
“Entertainment may be a different matter for Caesars in India compared to other hospitality companies,” said Dahiya.
Caesar’s entry into India facilitates concerts by stars Elton John, Celine Dion and Rod Stewart and stand-up comedian Jerry Seinfeld, all of whom have traditionally been associated with hotel entertainment venues such as the Colosseum at Caesars Palace in Las Vegas. . Vegas.
Worldwide, Caesars has approximately 15 venues for live entertainment events such as concerts, concerts, shows and stand-up acts. each of which is located on the strip of Las Vegas, known as the casino business.
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“We will look at big cities like Delhi, Ubai, Bangalore, besides practical places like Goa and Tier-II cities,” Chanani said. Active is looking for an agency cooperative first, but is also open to investing in real estate.
When asked about the planned investment in India, he said, “There is no set number in India.”
Copany is also exploring the market in the gambling space, although Indian policy does not discourage foreign direct investment in casinos and gambling, which is banned in other states. Soe States like Goa and Sikkim Territories like Daan have issued Indian business licenses to run casinos. These enterprises contributed a lot to the growing prosperity of Indians. There are no reports or data that estimate the number of harvest events in India.
A PwC report estimates that the Asia-Pacific gambling market will more than double to $79.3 billion (about 4 million kroner) in 2015 from $34.2 billion in 2010.
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Swiss wealth manager Julius Baer expects the number of high net worth individuals in India with assets of $1 billion or more to more than double to 4,03,000 by 2015.
Recently ichael A Leven, president and joint managing director of tourism developer Las Vegas Sands Corp, told ET that his partner is open to working in India, but it will be either Delhi or Ubay. “We have looked at India as a potential business market, but there are problems with access not being legal, and lack of infrastructure is another issue,” Levene said.
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