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Sheldon Adelson Prepared to Spend $10 Billion on Japanese Casino

Sheldon Adelson Prepared to Spend $10 Billion on Japanese Casino

The CEO of Las Vegas Sands, Sheldon Adelson has said that a resort hosting casinos in Japan could cost as much as $10 billion to build.

The operator is one of many hoping to win rights to operate in what is expected to become the world’s second largest casino market. Adelson was talking at an investor conference in Tokyo and he compared it to Singapore where the company spent $6 billion on land and construction.

However, he pointed out that it is a bigger opportunity than Singapore describing it as the ‘holy grail’. Japan legalised casinos late last year and is currently drawing up legislation that is expected to be ready by December. The legislation is set to cover the industry and pick operators and locations for integrated resorts, large-scale complexes that combine casinos, hotels and shopping.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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