Caesars evaluating spend in Korea project: CFO

Caesars Entertainment Corp CFO Eric Hession said the company is “currently evaluating” its spend for its Korea IR project, named “Caesars Korea”.

Hession made the comments during a Q3 earnings call on Wednesday. 

According to the Caesars Korea website, Caesars Korea is a joint venture project formed through the partnership of Caesars Entertainment Corporation and a leading Asian real estate developer and owner of luxury hotels and resorts. 

Once built, the project will be Caesar’s first branded integrated resort in Asia, complete with a luxury hotel offering 720 rooms, suites and villas, a conference centre, foreigners only casino, multiple live entertainment venues, F&B establishments, spa, fitness center and indoor-outdoor pool. 

According to the Caesars Korea website, total investment is over KRW850 billion, and is expected to open in 2021. 

On Wednesday, the company posted a 2.3 percent increase in net revenue in 19Q3, driven by increased consumer demand, and its hotel business in Las Vegas. 

In August, Caesars Entertainment Corp officially pulled out of the race for a Japanese casino license and said it will focus instead on its current plans and commitments, including a merger with Eldorado Resorts.