{"id":18898,"date":"2014-02-28T17:30:31","date_gmt":"2014-02-28T17:30:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=18898"},"modified":"2022-06-13T10:06:56","modified_gmt":"2022-06-13T17:06:56","slug":"game-on-sands-mgm-vow-to-spend-billions-for-japanese-casinos","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/game-on-sands-mgm-vow-to-spend-billions-for-japanese-casinos\/","title":{"rendered":"Game On: Sands, MGM Vow to Spend Billions for Japanese Casinos"},"content":{"rendered":"

 <\/p>\n

\"Japan
Like their prosperous Macau and Las Vegas properties, Las Vegas Sands and competitors MGM and Wynn hope to crack the emerging Japanese land gaming market (Image: AP file photo)<\/figcaption><\/figure>\n

It\u2019s Sheldon Adelson\u2019s favorite phrase: the casino magnate has pledged that he will spend \u201cwhatever it takes\u201d to gain a foothold in Japan, should the country legalize land-based casinos, as is expected to be approved in time to have casinos in place for the 2020 Tokyo Summer Olympic Games. Coincidently, Adelson also recently declared, vehemently, that he would spend \u201cwhatever it takes\u201d to prevent online gambling from gaining a foothold in the U.S., although in the case of Japan, the \u201cwhatever\u201d has a number, and that number is $10 billion. <\/span><\/span><\/p>\n

Cash or Check?<\/span><\/span><\/h2>\n

It\u2019s a dramatic statement of intent from the CEO of the Las Vegas Sands Corporation, which already operates the Venetian in Macau and the Marina Bay Sands in Singapore, as the company licks its formidable chops at the proposed regulation of land gambling in the world\u2019s third most prosperous economy. Adelson even told a press conference in Tokyo that he would pay that sum in \u201ccash\u201d if necessary. We suppose it helps being the ninth-richest person in the world when you make statements like that.<\/span><\/span><\/p>\n

It will certainly make Japan\u2019s lawmakers sit up and take notice. The country\u2019s ruling Liberal Democrat Party submitted a bill to parliament in early December that aims to open up a gaming market that could potentially be the second-largest in the world. It\u2019s estimated that Japan’s casino market could eventually generate $40 billion in revenue annually.<\/span><\/span><\/p><\/blockquote>\n

\u201cI think the bill will definitely pass,\u201d says Assistant Professor at Nihon University College of Economics Kazuaki Sasaki. \u201cLDP is supporting the bill and even for those parties that are against the bill, I don\u2019t think they will put restrictions on each member\u2019s vote.\u201d<\/span><\/span><\/p>\n

Competitive Bidding<\/span><\/span><\/h2>\n

However, experts are expecting a very competitive bidding process once the bill passes, and say it could well be five years before the first casino is up and running. It\u2019s no surprise, then, that the casino giants are beginning to flex their muscles, vying to gain the upper hand. Las Vegas Sands\u2019 $10 billion spending declaration is twice that of what Macau\u2019s Melco Crown<\/a> has pledged to ante up. And with typical bravado, Adelson also informed assembled media that his company had already established offices in Japan, and is ready to begin hiring employees.<\/span><\/span><\/p>\n

Should Las Vegas Sands receive a coveted gaming license, it will only consider building a casino in a large metropolis, such as Tokyo or Osaka, Adelson revealed. This, according to regional gaming expert D.S. Kim, is very much in keeping with the company\u2019s M.O. \u2013 a preference for building large-scale casino resorts, complete with convention centers and shopping malls, in major tourist hubs with large, affluent populations and good transport infrastructures already in place.<\/span><\/span><\/p>\n

In other words: not Sochi.<\/span><\/span><\/p>\n

Twenty-four hours after Adelson\u2019s press conference, MGM Resorts shot back with their own bold statement of intent, with CEO Jim Murren declaring a budget of $5 to $10 billion as well.<\/span><\/span><\/p>\n

\u201cWe will over-invest early on to ensure, as we have done everywhere else, so that we have properties that are built to last and that would stand additional competition,\u201d he promised.<\/span><\/span><\/p>\n

Wynn Resorts Ltd. President Matt Maddox\u2019s response was more conservative, but perhaps contained a snarky nod towards his competitors\u2019 machismo: \u201cThe opportunity is very good, but you have to be careful in throwing out billions and billions of dollars without really understanding what the goals are of the city.\u201d<\/span><\/span><\/p>\n

Looks like these competitors are starting their own games as soon as possible.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

  It\u2019s Sheldon Adelson\u2019s favorite phrase: the casino magnate has pledged that he will spend \u201cwhatever it takes\u201d to gain a foothold in Japan, should the country legalize land-based casinos, as is expected to be approved in time to have casinos in place for the 2020 Tokyo Summer Olympic Games. Coincidently, Adelson also recently declared, […]<\/p>\n","protected":false},"author":42,"featured_media":18907,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,18],"tags":[],"acf":[],"yoast_head":"\nGame On: Sands, MGM Vow to Spend Billions for Japanese Casinos<\/title>\n<meta name=\"description\" content=\"With the Tokyo 2020 Summer Olympics only six years away, the market for Japanese casinos is heating up, with Sands, MGM and Wynn all vying for spots.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Game On: Sands, MGM Vow to Spend Billions for Japanese Casinos\" \/>\n<meta property=\"og:description\" content=\"With the Tokyo 2020 Summer Olympics only six years away, the market for Japanese casinos is heating up, with 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