Las Vegas Sands targets Tokyo IR

Las Vegas Sands targets Tokyo IR

Las Vegas Sands seeks to land a Tokyo IR or to work in Yokohama, but not Osaka.

Las Vegas Sands announced it will focus on Tokyo and Yokohama to potentially develop its IR project in Japan in due time.

Japan.- The casino industry has drawn major interest in Japan and most international companies are targeting the archipelago. That’s why Las Vegas Sands Corp announced its primary targets are Tokyo and Yokohama.

News about the US company is a blow to Osaka, which seems to be out of its radar. The government will allow three locations at first, so it might reconsider the prefecture if more developers follow Sands.

Chairman Sheldon Adelson believes Tokyo will help the company to maintain its returns to investors. “We think an investment in Tokyo or Yokohama gives us the best opportunity to do exactly that.”

Yokohama’s bid

 As regional governments push to get their own development, Yokohama may join the debate for an IR bid.

According to The Japan Times, Yokohama Mayor Fumiko Hayashi may announce the prefecture’s interest in developing an entertainment project. It would join a race with the governments of Osaka, Wakayama and Nagasaki, which have already announced their interest.

The city of Yokohama would build its IR at the 47-hectare Yamashita Wharf, by Yamashita Park. The authorities will submit a draft extra budget covering €2.2 million for the bidding process.

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