Caesars Entertainment Corp is trying to sell the golf course it owns in Cotai to exit the city, the Wall Street Journal reports. In 2007, Caesars paid US$577.7 million for the 175-acre Macau Orient Golf Course, in Cotai, later rebranded Caesars Golf Macau. Many analysts saw this as a first move eyeing to entering the city’s gaming market, but that never came to happen. On top of that, the golf course has been losing money. “When you have that much capital devoted to an asset that’s not delivering its potential, you need to consider other options” Steven Tight, the company’s president of international development, told the newspaper. Mr Tight said Caesars Entertainment does not have yet formal offers for the golf course but there “has been a significant level of interest in the land from a number of potential buyers.” Caesars’ Entertainment chief executive Gary Loveman (pictured) said last month he had spoken at length with Macau officials and admitted his company was unlikely to obtain a Macau casino licence.
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