The company behind the world-famous Caesars Palace casino today unveiled plans to open an "entertainment resort" at a redeveloped Wembley leisure complex.

Caesars Entertainment, which has 28 properties including Caesars Palace in Las Vegas, said that its proposals included a "world-class" casino, a 400-room hotel, designer shops and restaurants and bars.

The development - to be called Caesars Wembley - is a 50:50 joint venture with the company involved in rejuvenating Wembley Arena and surrounding areas.

Quintain Estates and Development said that the proposed 650,000 square foot casino facility, which forms the second stage of its redevelopment scheme, was still subject to planning permission and reform of the UK gambling laws.

If the Gambling Bill is introduced into Parliament within the current session, legislative changes could occur as early as spring next year, Quintain said. Nick Shattock, the Quintain property director, added: "Together [with Caesars], we are providing Wembley with another world-class facility in one of the largest mixed-use urban regeneration schemes in the UK."

The first phase of Quintain's development is for a £1.3 billion regeneration scheme on 42 acres, including the site of Wembley Arena and Wembley Conference and Exhibition Centre. Plans include 3,700 homes and a range of new leisure and retail facilities.

Wallace Barr, the Caesars Entertainment chief executive, said that the proposed £334 million resort at Wembley would prove a natural draw for tourists.

He added: "Wembley promises to become one of Europe's top new leisure destinations. With that in mind, Wembley is a natural location for our first European casino project."

The proposed deregulation of gambling laws has already attracted interest in the UK from other major US leisure operators, including MGM Mirage.

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