Sands pushes Yokohama IR investment

Las Vegas Sands is pushing towards a Yokohama IR and has just revealed they are willing to invest between €9 million and €11 billion in its development.

Japan.- The upcoming casino industry has the most notorious developers fighting for Japan. Las Vegas Sands is looking forward to landing a Yokohama development and may invest heavily there.

“I think €11 billion is the starting point,” President and COO Robert Goldstein said during an earnings conference call. “I don’t think anybody’s going to do for less than €11 billion unless you’re going to do something sub-par.”

“You know we have the balance sheet and the capability and the skill set to do it,” he added. “Question is, can we get a return that?” Goldstein asked about Sands plans for Yokohama, as quoted by AGBrief.

Casino committee

Japan keeps moving its casino industry forward, not only by trying to create a proper regulatory framework but also by preparing the necessary committees to launch the market. Earlier this month, the government adopted an ordinance to create a management committee to supervise casino operators in Japan.

The committee would start on January 7, 2020, according to Jiji Press. As part of the creation of the committee, the government will nominate five members, including the chair. That person would be confirmed during the ongoing extraordinary session of Japan’s Parliament.