Sheldon Adelson and his Las Vegas Sands company are fast-becoming frontrunners for one of two casino licenses up for grabs in Japan.
Casino gaming is just now coming to fruition in Japan and the Las Vegas Sands have made it very clear they want a piece of the action. For some time now, LVS has been trying to show their level of commitment to the country in hopes of earning one of two integrated casino resort licenses up for grabs. The company plans on
spending as much as $10 billion to provide quality gaming, entertainment and more to Japan.
Robert Goldstein, the Las Vegas Sands President, attended a conference this week in Tokyo and explained that the venue that the company would create would offer much more than just a run of the mill casino and a hotel attraction. The venue would provide an entertainment complex that would bring in even more visitors and, as a result, countless millions of dollars from just tourism alone.
After several preliminary talks, it seems that Las Vegas Sands is the frontrunner when it comes to a possible license grant. The company, which is of course owned by casino magnate Sheldon Adelson, already has a strong performance in the integrated resort business and officials of Japan have clearly taken notice. For those unfamiliar with Adelson’s company track record, the Las Vegas Sands already offer similar venues in Singapore and Macau, which are huge international gambling markets on their own.
Japan’s National Diet and Their Role in the Licensing Process
The legislative body of Japan, known as the National Diet, is already working out the details for gaming regulation and oversight of commercial gambling facilities that are up for grabs. Companies that specialize in the casino business – companies like LVS – are looking to be involved in this region, with analysts suggesting that the policies set in Japan will decide how much will actually be invested when it comes to the two integrated resorts that will eventually gain approval.
It is believed that the National Diet are using the Gaming Act of Singapore to dictate their legislation. If so, then the casinos could be limited to a particular size. In Singapore, the venues are 15,000 square meters in size. Regardless of what the potential size of these new casino and hotels are, it will undoubtedly still bring in a hotbed of betting activity in a country that is just now beginning to see a huge increase in gambling overall.
Other Big-Time Casino Players Also Putting Their Hat in the Ring
On top of Las Vegas Sands being interested in the licensing, Melco Resorts and MGM Resorts have also shown they are willing to invest as much as $10 billion. During the conference in Tokyo, LVS decided to give their all-in order to win the favor of the public and officials within the government. Even David Beckham, a retired international football star, also attended the widely-covered press spectacle.
The Sands used Beckham to drive interest and build even more excitement about the prospects of a new casino that would cater to the Japanese people. In fact, this is not the first time they have used the footballer to bring in huge press to promote their interests. At one point in 2016, Sheldon Adelson also brought Beckham aboard when he was showing interest in funding the Oakland Raiders new NFL stadium – an endeavor that Adelson would later pull out of.
In the end, it’s still a waiting game to see who will be selected for licensing in Japan. So far, all bets are on the Las Vegas Sands to be one of the chosen operators, with companies like MGM Resorts no doubt being another front-runner to acquire their own license as well. The staff here will keep you updated on any news related to this deal in the coming months.