Project Will Be Centerpiece Of 36 Billion Yuan (US$5.7 Billion) Tourism Complex
Hainan’s much-discussed “revitalization” project, which Beijing hopes will transform the island into a world-class destination for tourists seeking the “four S-es” (sun, sea, sand and [duty-free] shopping), continues to barrel ahead, with the first Caesars Palace resort in Asia breaking ground this week. The 3 billion yuan (US$473 million) Caesars Palace Longmu Bay will form the centerpiece of a massive, five square kilometer tourism development worth some 36 billion yuan ($5.7 billion), Caesars Entertainment chief executive Gary Loveman said this week, adding that the Longmu Bay resort “will build a foundation for Caesars’ expansion throughout the Asia-Pacific region.”
Designed by Australian architects PTW, Longmu Bay will have 1,000 rooms, two colosseum-shaped entertainment venues, Michelin chef-studded restaurants, a 36 hole golf course, the usual retail and spa amenities, and — perhaps key in this aspiring yacht hub — a marina.
Lest anyone think the entrance of Caesars Palace into the Hainan tourism market means the rumors that the Chinese government may experiment with legalized gambling on the island, it’s important to point out that the Longmu Bay resort will be the first by Caesars Global Life, the non-gaming division of Caesars Entertainment. Unlike its sister company, Caesars Global life develops resorts and villas designed as entertainment destinations, 25 of which the company plans to build in China over the next five years.