Tag: Japan casino
Las Vegas Sands prepared to spend $10B on Japan casino
Bloomberg – Las Vegas Sands Corp. (LVS), the world’s largest gambling company by market value, said it’s ready to invest $10 billion in Japan, projected to be Asia’s second-largest casino market. “We will spend whatever it takes,” billionaire Chairman and Chief Executive Officer Sheldon Adelson said at a media briefing in Tokyo. “We could pay all cash. We don’t have to, but we will borrow money in a typical mortgage-to-value ratio.” Sands is opening offices and hiring in Japan, said Adelson, who’s attending a conference on investing in Japan today. The company would also consider working with a local partner…
Macau Gambling Mogul Seeks Casino in Japan
Bloomberg – , son of Macau gambling tycoon Stanley Ho, plans to invest more than $5 billion in Japan if Melco Crown Entertainment Ltd. (MPEL) receives permission to build a casino there as he sees constraints on development at home. Ho’s maneuver to build projects in the world’s third-largest economy is part of his strategy to expand overseas for future growth, as government policies, limited land and a labor shortage in Macau could eventually restrict gaming development. “We still have the most eggs in the Macau basket,” Ho, co-chairman of Melco Crown, said in an interview in Tokyo on Sept….
Australian tycoon eyes Japan casino
Channel News Asia – Australian tycoon James Packer said Friday he wants to expand his gaming empire into the lucrative Japanese market in the form of resort-casinos. The mogul, who already operates casinos in Melbourne, Perth and Macau and is planning complexes in Manila, Sydney and Sri Lanka, said Japan was his next big hope. “I hope Japan comes up,” he told The Australian newspaper. “If Japan comes on it will be the second-biggest gaming market in the world. It has 100 million people who are all mad gamblers but they are all doing it through horse racing and pachinko….
MGM Eyes Japan & South Korea
From Card Player – MGM Resorts International is in the midst of crucial projects in the United States and Macau, but it’s also reportedly keeping close tabs on any possible pro-gambling legal developments in Japan and Korea. The casino firm is one of the largest in the world, boasting dozens of gambling interests. With regards to Japan; “There’s a growing consensus there that gaming will be expanded, and we plan to participate in that process. I think our operating and development expertise as well as our ability to be good partners are great advantages for us,” MGM CEO Jim Murren…