Caesars Entertainment Corp. is announcing it’s building a $470 million luxury resort on the Chinese island of Hainan.(AP Photo/PTW)
 
Casino operator Caesars Entertainment Corp. is announcing plans to build a $470 million luxury resort on the Chinese island of Hainan.
CEO Gary Loveman tells The Associated Press that the debut resort in Asia for the world’s largest casino company will be called Caesars Palace Longmu Bay.
 
Ground is being broken Friday for the 1,000-room hotel designed by Australia-based PTW Architects.
 
It will be the first project by Caesars Global Life.
 
That’s a non-casino division Caesars created to license, franchise and manage resorts outside the U.S.
 
Privately-held Caesars is partnering in the development with Guoxin Longmu Bay Investment Holding Co. Ltd. That’s a subsidiary of Jiangsu Guoxin Investment Group Limited of China.
 
 
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