The Board of Quintain announces that is has reached agreement with Caesars Entertainment Inc. to form a 50/50 joint venture to develop Caesars Wembley. This entertainment resort will be located within the area of Wembley that Quintain is transforming into an international leisure destination.
The joint venture, which is subject to planning and to the reform of the UK Gambling laws, will operate a 650,000 sq ft facility at Wembley. This will comprise a world-class casino, a 400 room luxury hotel, convention and performance space, a spa and swimming pool, designer shops and a wide variety of restaurants, bars and lounges.
The development will constitute Stage II of Quintain’s plan to transform Wembley into a world-class leisure destination incorporating: Wembley Arena, the internationally-renowned music and entertainment venue; designer shopping outlets; a dedicated sports retail complex and one of the biggest multi-screen cinemas in the UK. Further retail and leisure facilities will include an array of restaurants, cafes and bars, ten-pin bowling, a nightclub and public spaces for performance and entertainment.
If the Gaming Bill is introduced into Parliament within the current Parliamentary session, legislative changes could occur as early as Summer/Summer 2005, which would enable the planning application for this second phase to be submitted. A programme of consultation with the local community is being developed to engage them in the next phase of the project.
Announcing the plans, Nick Shattock, Property Director of Quintain Estates and Development, said: 'Wembley is recognised in the Mayor’s London Plan as an international leisure destination. We are delighted to be working with Caesars, a leading global brand. Together, we are providing Wembley with another world-class facility in one of the largest mixed-use urban regneration schemes in the UK.'
Source: Quintain Estates