Caesars Entertainment Corporation (Nasdaq: CZR) is reportedly scouting the Japanese entertainment market. In an exclusive interview with Asia Gaming Brief, the company’s president of entertainment, Jason Gastwirth, confirmed that he has begun “initial discussions” with talent agencies and groups related, for the purpose of looking into the possibility of cooperation in regard to a potential theater for an integrated resort (IR) in Japan.
According to the news outlet, Gastwirth, who last week was in Japan for business meetings, noted, “Our pitch to the market has been that we are entertainment first,” and explained that the Las Vegas-based company’s approach to entertainment tends to “concentrate in theatre space.”
In venues such as Las Vegas, headline performers such as Mariah Carey, Celine Dion and Jennifer Lopez take part in Caesars “residency system,” which reportedly for the most part involves these major artists giving several weekly performances at smaller theaters with an approximate capacity of between 4,000 and 5,000 for as long as a month. The arrangement tends to enable a more elaborate and intimate performance than is typically possible when an artist of such draw tours city to city in much larger arenas.
Asia Gaming Brief reports that Gastwirth observed that “entertainment is the leading driver of trips to Las Vegas,” and that Caesars would like to create a similar effect for Japan in order to build “a true destination resort.”
He went on to communicate that in addition to musical performances, a theater in an IR in Japan could be used for other major event shows and sports. “We’re trying to think through what’s going to be the type of programming that’s going to support that future,” explained Gastwirth.
One day after the lower chamber of Japan’s parliament [House of Representatives] passed the IR Implementation Bill, the country’s governing coalition agreed to extend the current ordinary session of parliament until 22 July.