Melco’s Lawrence Ho favours Osaka over Tokyo for new casino

ence Ho, the owner of Melco Resorts & Entertainment, has said that Tokyo doesn’t need a casino to attract people. Instead, the billionaire favours building a casino resort in the Japanese city of Osaka.

In comments made during an interview with Bloomberg, Ho affirmed that a smaller city such as Osaka makes more sense for Japan as an entertainment destination.

Due to Tokyo’s size and its significantly higher costs, Ho believes the capital does not lend itself well to creating an eclectic gaming zone. Osaka, on the other hand, some 312 miles from Tokyo, is a city with much potential for growth and is already a favourite among Chinese tourists.

“When you go to the Kansai region, it’s more fun, really, and we’re a company that focuses on fun and entertainment,” the billionaire told the media outlet.

“I’m not so sure Tokyo needs an integrated resort,” Ho added. “Tokyo by itself is amazing. It’s like when people ask me: ‘Do you think New York and London need an integrated resort?’ No, they don’t.”

Last December, Japanese lawmakers voted to legalise gambling at integrated resorts. Melco and other rivals including Las Vegas Sands and MGM have since begun to seek out partnerships with Japanese firms, as they compete to jointly bid for casino licenses in the country. Although Ho gave no details about any potential agreements already made, he likened the process of courting Japanese firms to “speed-dating”.

The prize could be the world’s most lucrative casino market, which CLSA Ltd. estimates could generate $25 billion annually.