Caesars Entertainment, the world's biggest casino company, is entering India through non-gaming businesses such as luxury hotels and entertainment businesses such as managing Bollywood-centric events, concerts, musicals, drama and stand-up comedy.
India does not allow foreigners in the gaming business.
The Las Vegas-based Caesars Entertainment, which owns 50 hotels and casinos and several golf resorts around the world, plans to open up to 15 hotels in India in a decade and has already initiated talks with around half-a-dozen real estate developers, a top official of the $9-billion firm said.
"We have spent the last one year in exploring the Indian market and there is a lot to offers,"
Neera Chanani, South Asia head at Caesars Entertainment Hospitality, said.
"In the non-gaming space we will focus on hotels and convention centres and building entertainment destinations within or adjacent to them," she said.
The company plans to bring its global brands and offerings such as upscale hotel brand Caesars Hotel and luxury offering Caesars Palace, and customise them for the local market.
"In the entertainment space one of the major focus areas will be Bollywood. We are looking to create content that is specific to the Indian market," Chanani said. Caesars is in talks with large event management companies as well as production houses in India for partnerships. Experts say it's a good time for Ceasars to enter the country.
"In case of non-gaming entertainment, this could be the right time for Caesars to evaluate and introduce new concepts in India," Vivek Dahiya, CEO of real estate consultancy GenReal, said. "Though the market is not evolved yet and is still unstructured, with the success of Formula 1 (Grand Prix), Kingdom of Dreams (alive entertainment destination), bowling destinations in the country, it is clear that Indians are willing to experiment beyond films and F&B and spend money," he said.