Ceasars expansion continues with Mexico resort
Fresh off its recent emergence from bankruptcy, Caesars has been aggressively looking to make a new name for itself. It has announced three new projects in two weeks, with the latest heading south of the border to Mexico.
Caesars has partnered with Grupo Questro, a Mexican real estate development company, to manage a non-gaming beachfront resort in the popular tourist destination of Puerto Los Cabos on the Baja California peninsula. The $200-million non-gaming beachfront resort will carry the name Caesars Palace Puerto Los Cabos and will offer 500 hotel rooms, a spa, several restaurants, two golf course, an entertainment space and a 40,000-square-foot convention center. Developers plan on breaking ground on the resort during the first half of next year.
Grupo Questro will retain ownership of the project, but Caesars will run the operations and receive fees for licensing its name and managing the resort. This is Caesar’s first foray into Mexico, and the company’s CEO, Mark Frissora, said that it represents "further progress on our strategy to expand the company’s non-gaming businesses into premiere resort and gateway destinations.”
Only last week, Caesars announced that it would open its first non-gaming project in Dubai. That comes following an agreement with Meraas Holding through which the casino giant will operate two non-gaming resorts on the Persian Gulf’s Bluewaters Island. It is also partnering with an Indian tribe in California to build a casino resort called Harrah’s Northen California near Sacramento.