Caesars Entertainment Corp. has signed an agreement to manage a non-gaming, beachfront resort in Mexico as its seeks to bring its brands to more overseas markets.
The 500-room Caesars Palace in Puerto Los Cabos will feature a 40,000-square foot convention center, a full service spa, three restaurants, pools and amenities for sports and entertainment, the Las Vegas-based company said in a statement Wednesday.
Mexican developer Grupo Questro will break ground on the $200 million resort in the first half of next year. Caesars will receive a licensing and management fee. The property will become its first in the Latin American country.
The deal with Grupo Questro comes on the heals of a similar agreement signed last week by Caesars to manage two luxury, non-gaming hotels and a beach club in Dubai. That deal represented Caesars’ first venture into the non-gaming resort industry.
“Bringing Caesars Palace to Puerto Los Cabos will represent further progress on our strategy to expand the company’s non-gaming businesses into premiere resort and gateway destinations,” Caesars Chief Executive Officer Mark Frissora said in the statement.
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