Caesars Entertainment Corporation in the Philippines
In this document we will look at the Philippine city of Paranaque-City as the site of the newest property from Caesars Entertainment Corporation. The proposal will examine in detail the state of the hospitality market in the Philippines, the strengths of brand recognition of Caesars worldwide and in Asia, as well as the potential risks that the company may face in this emerging market.
There will be an in-depth analysis of the investment plan and construction of a new property in the Philippine Islands. The most effective way to enter this market will be through foreign direct investment; (FDI) later we will go over our plan and strategy to enter the country, the risks involved and how to overcome them.
Analysis of the company
Caesars Entertainment Corporation (formerly Harrah's Entertainment, Inc.) is a US-based gaming company which owns and operates 52 casinos in 12 US states as well as several others worldwide. The company operates under the brand names Harrah's, Caesars and Horseshoe. Among its entertainment facilities are land-based casinos, riverboat or dockside casinos, managed casinos, greyhound racetrack and casinos, as well as a combination thoroughbred racetrack and casinos. The company also operates hotel and convention space, restaurants, and non-gaming entertainment facilities. Caesars has over three million square feet of gaming space and 42,000 hotel rooms worldwide (Caesars Entertainment, 2012). Among it's global holdings, Caesars also owns and operates the London Clubs International family of casinos and hosts the World Series of Poker tournament. Caesars was established in Reno, Nevada more than 70 years ago and has since moved it's international headquarters to Las Vegas, Nevada (Global Data, Oct 2011). We currently employ more than 70,000 people from many cultures and most countries. Our main focus is to build long-terms...