Following last week’s passage of the Integrated Resort Implementation Bill, three of the world’s largest gambling operators have reportedly reaffirmed their interest in running one of Japan’s coming trio of integrated casino resorts.
According to a Thursday report from GGRAsia, the past seven days have seen leading figures at Melco Resorts and Entertainment Limited, Las Vegas Sands Corporation and NagaCorp Limited confirm that they remain ready to partner with local Japanese municipalities in order to make license pitches to central government.
Melco Resorts and Entertainment Limited:
Lawrence Ho Yau Lung, Chairman and Chief Executive Officer for Hong Kong-headquartered Melco Resorts and Entertainment Limited, used a Tuesday conference call with investors to state that the coming Japanese casino market ‘continues to be a core focus.’ The billionaire businessman behind the City of Dreams Macau, Studio City Macau and City of Dreams Manila properties declared that his firm is ready to devote ‘a huge amount of resources’ to securing a license and expects the bidding process to begin ‘late next year’ at the earliest.
Ho reportedly said…
“We expect development of the next generation of integrated resorts to soon commence in this incredibly exciting yet currently under-penetrated tourism destination. We believe we are well placed in Japan with a strong local team actively working on the ground engaging with the relevant stakeholders.”
Las Vegas Sands Corporation:
Similarly, Sheldon Adelson, Chairman and Chief Executive Officer for giant American casino operator Las Vegas Sands Corporation, reportedly told investors on Wednesday that his company is ‘looking forward’ to securing what would be ‘a unique opportunity’ in Japan.
Adelson reportedly said…
“We hope to be able to bring our track record, expertise and development vision together with our industry-leading financial strength to deliver a large-scale MICE-based integrated resort that would be uniquely tailored to the Japanese market.”
This was followed by the Las Vegas-based operator’s President and Chief Operating Officer, Robert Goldstein, explaining that the operator has had a presence in Japan ‘for over a decade’ and is very familiar with the ‘reference points’ being sought by the Asian nation’s authorities.
“We’re hoping the [Japanese] government can move forward. We’ll wait for its direction and adhere to its advices.”
For his part, Timothy McNally, Chairman for NagaCorp Limited, used a Wednesday press conference to proclaim that Japan is ‘undoubtedly an attractive market’ for the Phnom Penh-based firm.
However, he detailed that he intended to wait for further official guidance concerning coming land acquisition and taxation policies before formulating an official bid.
Genting Singapore Limited:
The news comes as casino operator, Genting Singapore Limited, revealed that it had established five additional Japanese subsidiaries in hopes of furthering its own attempt at securing one of the coming licenses.
The firm behind the giant Resorts World Sentosa development in Singapore detailed on Tuesday (pdf) that its new Genting Osaka Company Limited, Genting Japan Company Limited, Genting Yokohama Company Limited, Resorts World Yokohama Company Limited and Genting Tokyo Company Limited subordinates will now be tasked with the ‘development and management of integrated resort and leisure destinations’ in Japan.