• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Caesars plans US$880 mln New York casino

Jul 01, 2014 Newsdesk Latest News, Top of the deck, World  


Caesars plans US$880 mln New York casino

Caesars Entertainment Corp confirmed it has applied to build Caesars New York, a US$880 million casino resort it wants to develop in Woodbury, upstate New York. A subsidiary of Caesars applied for a gaming licence in the state on Monday, it said in a statement.

Caesars has long coveted a casino operation in Asia. It tried to parlay a Macau golf course into a casino project, but in August last year sold the 70-hectare (175-acre) Caesars Golf Macau to local investors for US$438 million, only 24 percent below the US$577 million U.S.-based Caesars (then known as Harrah’s) paid for it in 2007.

The New York Gaming Commission received 17 applications for the upstate New York project on Monday, the deadline for bids, for a total of four gaming licences. Among the operators vying for a licence is Genting Malaysia Bhd.

A total of eight bids have been proposed for the Catskill Mountains-Orange County area, about 50 miles (80 kilometres) from New York City.

New York became the largest U.S. state to allow Las Vegas-style casinos when voters approved a constitutional amendment in November. The gaming commission said it would pick winners before year-end.

“We have a tremendous opportunity to bring the Caesars brand to New York State and create a world-class entertainment facility,” Caesars chief executive Gary Loveman said in the statement.

The resort, which could open two years after receiving permits and approvals, would have 300 luxury hotel rooms, suites and villas, 2,560 slot machines and 190 table games. It would also feature a World Series of Poker-branded card room and restaurants by Gordon Ramsay and Nobu Matsuhisa.

The Caesars New York bid follows an announcement last week that the company would close its Showboat property in Atlantic City on August 31 amid falling revenue and increased competition.

Genting wants to build a casino resort in Tuxedo, in Orange County, New York. It has proposed a multi-million four-season resort, to be called Sterling Forest Resort. Nearby Woodbury Commons is one of the main retail outlet centres in the U.S., attracting wealthy consumers from overseas, especially from Asia.


  • tweet
Related articles
  • Genting Malaysia revenue at US$494mln in 1Q, narrows loss
    Genting Malaysia revenue at US$494mln...

    May 25, 2023  

  • Cambodian unionist jailed over strike tied to NagaWorld
    Cambodian unionist jailed over strike...

    May 25, 2023  

More news
  • Dividend restart still far for Macau ops: JP Morgan
    Dividend restart still far for Macau...

    May 30, 2023  

  • IGT flags route to high-performing games for Asia
    IGT flags route to high-performing...

    May 30, 2023  


Latest News

Dividend restart still far for Macau ops: JP Morgan

Dividend restart still far for Macau ops: JP Morgan

May 30, 2023  

The majority of the Macau casino operators is unlikely to resume dividend payment in the near term, suggested JP Morgan Securities (Asia Pacific) Ltd analyst DS Kim in an interview with GGRAsia....
Read More
IGT flags route to high-performing games for Asia

IGT flags route to high-performing games for Asia

May 30, 2023  

We’ll be in Singapore for many years: LVS chairman

We’ll be in Singapore for many years: LVS chairman

May 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


6,000

Total number of visitors expected at the Global Gaming Expo (G2E) Asia 2023 Special Edition: Singapore, running from May 30 to June 1



Most Popular

  • Cotai Expo hotel extra to licence capex, says GoldsteinCotai Expo hotel extra to licence capex, says Goldstein May 29, 2023
  • Ian Coughlan out of Wynn Macau Ltd board, Cameron-Doe inIan Coughlan out of Wynn Macau Ltd board, Cameron-Doe in May 29, 2023
  • Londoner Macao pulls in foreigners and Chinese: LVS CEOLondoner Macao pulls in foreigners and Chinese: LVS CEO May 25, 2023
  • Londoner Macao to host Harry Potter exhibition in DecLondoner Macao to host Harry Potter exhibition in Dec May 29, 2023
  • Suntrust agrees to US$6mln loan from chairman Andrew LoSuntrust agrees to US$6mln loan from chairman Andrew Lo May 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us