Las Vegas Sands with better chances in Japan

Las Vegas Sands has been named as the potential operator for Japanese casino.

Japan.- Chelsey Tam, an analyst from the independent investment research firm MorningStar, named Las Vegas Sands’ proposal as the potential winner of the Japanese casino development. The American company is one of the bidding operators competing for the license in the recently approved Asian market.

Other bidders are MGM Resorts International, Galaxy Ent, Melco Crown and Hard Rock. According to MorningStar’s specialist, Las Vegas Sands has better chances of becoming the official operator as it possesses “strong global track record,” revealed the Asia Gaming Brief news outlet.

“Our $57 fair value estimate for Sands might increase by around a high-single-digit percentage, as we evaluate the impact from a Japanese gaming license over the coming weeks, which would leave shares slightly undervalued at current share prices,” stated the official report from the company.

Las Vegas Sand has estimated that the Japanese casino would generate US$25 billion in revenue, from which US$19 billion would represent gaming profits, whilst the remainder amount would be generated by hotel, touristic and entertainment activities.

MorningStar also revealed that the chosen host cities would be announced by the second semester of next year. Meanwhile, the winner of the licensing process would be revealed in 2019. The gaming venues would start their operations by 2024.