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NEWS 23 August 2019

Las Vegas Sands abandons plans for Osaka casino

By Nathan Joyes

Las Vegas Sands has ended its interest in developing an integrated resort in Osaka, Japan.

Despite being seen as a strong candidate, Sands announced it will focus on other opportunities in Japan, including Tokyo and Yokohama.

At present, a maximum of three locations will be allowed under a law passed last year for casinos within Japan.

Las Vegas Chairman and CEO Sheldon  Adelson said: “For the past several years, we have engaged in a conversation with the Osaka Government regarding the possibility of building a world-class integrated resort there."

MGM Resorts International COO Bill Hornbuckle told Gambling Insider the company wants to build something extremely special in Japan, with Osaka its first choice.

He said: “Japan is the largest untapped market in the world that we think can be regulated properly and a place we might be able to get to. It represents the economics of something like Singapore.

“There will be three coveted licenses. Each one of them will have an audience of about 30 million if they are spread out correctly. So we’re all in.”

In Melco Resorts and Entertainment’s Q2 report, CEO Lawrence Ho also detailed its plans for an integrated resort in Japan.

He said: “In May, we released designs of our proposed Osaka integrated resort – City of the Future. We have also participated in the Yokohama RFI and will participate in the Osaka RFC.”

RELATED TAGS: Land-Based | Industry | Mergers & Acquisitions | Casino
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