After Las Vegas Sands’ chairman statement, most renowned brands confirmed their interest in the market.
Japan.- Yesterday the international media published Sheldon Adelson’s statement on developing the Japanese casino industry under his profitable company, Las Vegas Sands. Whilst regional legislators are still planning further regulation on licensing process, Hard Rock International and Melco Crown issued their intentions to compete with Adelson’s company.
Hard Rock International Inc.’s chairman James Allen said the company’s target is to install an ultimate casino under a joint venture with local entrepreneurs. “It’s important to make sure our local partners are involved in the relationship, not just as blind investors,” the magnate revealed to Reuters. Hard Rock International has already identified 20 to 30 potential Japanese partners among local financial firms, manufacturers and landholders.
Meanwhile, in a subtle response to Las Vegas Sands’ attempt to invest around US$10 billion, Melco Crown’s chairman and CEO Lawrence Ho Yau Lung expressed: “We’ll absolutely spend whatever we need to win.” Melco’s revenue would probably be located at Osaka city. “We are determined to work with the Japanese government and local partners and communities to create the city’s first integrated resort which delivers long lasting benefits to Japan,” added the Asian company’s CEO.
As casino licensing process has not been established in Japan yet, it is expected that the government would name the future operators by 2019, whilst the gaming venues would start their operations from two to three years after the announcement.