Las Vegas Sands Prepared to Invest $10 Billion in Japanese Casino
Earlier this week Sheldon Adelson, the CEO of Las Vegas Sands, said that his company was willing to spend “whatever it takes” in order to setup a casino project in Japan.
It is widely thought that Las Vegas Sands is a strong candidate to receive a Japanese casino license if the country passes legislation to legalise casino gambling.
Las Vegas Sands already operates successfully in Singapore which is serving as a model for Japanese lawmakers.
At a media briefing this week in Tokyo, Adelson said that he’d invest $10 billion but would “rather do it at 7”.
If two large resorts are established in Tokyo and Osaka and ten smaller resorts across the country,
it is thought that Japan could generate up to $40 billion a year in gaming revenues. This would make Japan Asia’s second-largest gambling market after Macau.
However, when asked if he would take on Japanese companies as equity partners, Adelson said that he’d rather avoid it, but didn’t rule it out. He said that Las Vegas Sands didn’t need to bring in others to share the burden of investment, “These people can’t keep up. But I’m not ruling it out. I’m keeping my mind open”.