{"id":112920,"date":"2019-08-22T12:18:54","date_gmt":"2019-08-22T19:18:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=112920"},"modified":"2019-08-22T15:21:24","modified_gmt":"2019-08-22T22:21:24","slug":"las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/","title":{"rendered":"Las Vegas Sands Focusing on Tokyo or Yokohama for Japan Casino License"},"content":{"rendered":"

Las Vegas Sands (LVS) has suddenly taken itself out of the running for a resort casino license in Osaka, Japan and instead will compete in the more populated cities of Yokohama and Tokyo.<\/p>\n

\"\"
Las Vegas Sands CEO Sheldon Adelson has withdrawn his company from the race for a casino license in Osaka Japan. Instead, Sands will concentrate on a license in Tokyo or Yokohama. (Image: The Associated Press)<\/figcaption><\/figure>\n

The company announced the change of focus in a statement released on Thursday. It was just in June that George Tanasijevich<\/a>, Sands managing director of global development, said an interview with Inside Asian Gaming<\/em> that LVS thinks the \u201cpossibilities are very low for both cities (Tokyo and Yokohama) at this point.\u201d<\/p>\n

For years, Las Vegas Sands was highly interested in opening a casino hotel in Osaka. It is Japan\u2019s third-largest city.<\/p>\n

\n

But in the new statement, Sands CEO Sheldon Adelson said the company wants to \u201ctarget new development opportunities that allow us to maintain our industry-leading returns on invested capital — and we think an investment in Tokyo or Yokohama gives us the best opportunity to do exactly that.\u201d<\/p>\n<\/div>\n

Adelson also confirmed that for several years Sands has \u201cengaged in a conversation with the Osaka government regarding the possibility of building a world-class Integrated Resort [IR] there.\u201d<\/p>\n

Additionally, the company says it will \u201cdrive organic growth by strongly reinvesting in our existing portfolio of properties in Macau, Singapore, and Las Vegas.\u201d<\/p>\n

The company\u2019s statement was released only a few hours after Yokohama officials said the city wants proposals for a resort casino, according to Bloomberg<\/em> News. As envisioned, it will be constructed on Yamashita Pier.<\/p>\n

The city is the second-largest in Japan. It is located on Tokyo Bay and is about a half hour’s drive from the nation\u2019s capital of Tokyo.<\/p>\n

Yokohama Flip-Flops on Wanting Resort Casino<\/h2>\n

Initially, Yokohama had been uninterested in capturing a gaming license. There were concerns over crime and other issues.<\/p>\n

A poll of Yokohama residents also found last September that 97 percent of those questioned had negative views of a casino there.<\/p>\n

\n

But now Yokohama Mayor Fumiko Hayashi announced that “I’ve come to the conclusion that in order to achieve growth and development, we need [an] IR.”<\/p>\n<\/div>\n

Many gaming sector observers predict that Osaka will be the first location in Japan to get an IR.\u00a0Currently, only three licenses will be granted by Japan\u2019s national government.<\/p>\n

Several prominent casino operators are interested in applying. Different cities are expected to lobby to be considered.<\/p>\n

MGM Resorts International and Orix Corp. have prioritized opening a resort casino in Osaka. Melco Resorts & Entertainment Ltd., Wynn Resorts Ltd., and Galaxy Entertainment Group are eager to open a property in Osaka, too.<\/p>\n

Other areas vying for a casino license may include Wakayama<\/a>, Nagasaki, Hokkaido, and Kanagawa. No resort casinos are expected to be open in time for the 2020 Olympics — to be held in Tokyo.<\/p>\n

Once the casinos are in place, Japan\u2019s gross gaming revenue (GGR) is predicted to total $20 billion a year, according to CLSA, an Asian-based brokerage and investment firm, Bloomberg<\/em> reported. It could wind up as the second-largest gambling hub in Asia. Macau is likely to remain first.<\/strong><\/p>\n

To get an idea of which companies are vying for the Osaka license, GGRAsia <\/em>noted several organizations which were highlighted at the Japan IR Expo forum held in May. These had included: Galaxy, Genting Singapore Ltd, Las Vegas Sands, Melco, MGM Resorts, Wynn, and a local alliance from Osaka.<\/p>\n

In March, MGM Resorts CEO Jim Murren<\/a> predicted that Osaka would be the first region approved for an IR in Japan. \u201cWe\u2019ve made a decision to focus all of our energy on Osaka,\u201d Murren has said.<\/p>\n

Murren added that a lengthy licensing process in Japan could prohibit opening an IR in Osaka in time for the city\u2019s hosting of the 2025 World Expo.<\/p>\n

Japan Casinos May Not Open until 2026<\/h2>\n

Despite the keen interest, the first Japanese casino resorts may not open until 2026, according to an analysis by Global Market Advisors (GMA)<\/a>.<\/p>\n

Japan\u2019s government is expected to provide more details soon on its plans and the overall review process for casino proposals. Japan legalized casino resorts only last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (LVS) has suddenly taken itself out of the running for a resort casino license in Osaka, Japan and instead will compete in the more populated cities of Yokohama and Tokyo. The company announced the change of focus in a statement released on Thursday. It was just in June that George Tanasijevich, Sands […]<\/p>\n","protected":false},"author":44,"featured_media":112922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,13592],"tags":[],"acf":[],"yoast_head":"\nLas Vegas Sands Focusing on Tokyo, Yokohama for Japan Casino License<\/title>\n<meta name=\"description\" content=\"Las Vegas Sands (LVS) has suddenly taken itself out of the running for a resort casino license in Osaka Japan. Instead, it will compete in the more populated cities of Tokyo and Yokohama.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Sands Focusing on Tokyo, Yokohama for Japan Casino License\" \/>\n<meta property=\"og:description\" content=\"Las Vegas Sands (LVS) has suddenly taken itself out of the running for a resort casino license in Osaka Japan. Instead, it will compete in the more populated cities of Tokyo and Yokohama.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-22T19:18:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-22T22:21:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/sheldon-adelson.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1642\" \/>\n\t<meta property=\"og:image:height\" content=\"1094\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ed Silverstein\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgedsilv\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ed Silverstein\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/\",\"url\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/\",\"name\":\"Las Vegas Sands Focusing on Tokyo, Yokohama for Japan Casino License\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-focusing-on-tokyo-or-yokohama-for-japan-casino-license\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/sheldon-adelson.jpeg\",\"datePublished\":\"2019-08-22T19:18:54+00:00\",\"dateModified\":\"2019-08-22T22:21:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/b3771b02527bcbda9af984b9b1ff098e\"},\"description\":\"Las Vegas Sands (LVS) has suddenly taken itself out of the running for a resort casino license in Osaka Japan. 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