• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

LVS open to rethink on Japan if rules change: CEO

Jul 24, 2020 Newsdesk Japan, Latest News, Top of the deck  


LVS open to rethink on Japan if rules change: CEO

Sheldon Adelson, chairman and chief executive of casino group Las Vegas Sands Corp, says the company would be “open” to rethinking its position on Japan’s nascent casino industry, if the country’s legal framework becomes what the firm would regard as more investor-friendly.

Las Vegas Sands, the parent of Macau casino operator Sands China Ltd, said in a May press announcement that the “framework” for development in Japan of a gaming complex, or integrated resort (IR) as they are known there, had made the firm’s goals there “unreachable”.

Speaking on Wednesday on the second-quarter earnings call of the group, Mr Adelson (pictured in a file photo), said the casino-related regulations that were “promulgated by the Japanese government” and the country’s parliament “were not conducive to attracting the kind of investment” that is required for such a project in Japan.

The executive mentioned the high costs likely to be associated with developing a casino scheme in Japan, as well as regulations related with taxes. Capital expenditure of US$10 billion for building a resort has been widely touted within the industry.

“The cost of construction and the cost of land in Japan are very high,” said the CEO in his Wednesday comments, adding that it wouldn’t “have made much of a difference” if the costs were lower “because of some of the rules” that have been suggested. He specifically mentioned the plan to withhold taxes on winnings by non-resident foreigners, which had been proposed last year by the country’s Ministry of Finance.

“There were just too many negative regulations that we couldn’t live with,” stated Mr Adelson. “If they change it, our mind is open to go back.”

Las Vegas Sands had said in August last year it would focus on Tokyo and Yokohama in its effort to be allowed to build a casino resort in Japan.

Also commenting on the topic, Robert Goldstein, president and chief operating officer of Las Vegas Sands, said the regulatory environment in Japan “just wasn’t suitable to make the kind of investment that this company demands in terms of returns.”

He added: “We couldn’t make it work. We sure tried … We wish the construct was more welcoming to the investor, but it wasn’t.”

Commentators told GGRAsia in May that Las Vegas Sands’ decision to pull out of the Japan race was in likelihood because there were too many unknowns in the Japan regulatory and business environment. They included that the national basic policy on IR business had not yet been published, which could lead to further delays in the process.

Bay City Ventures Ltd, a Japan-based marketing consultancy, said in a report earlier this month that it was unlikely that Las Vegas Sands would forever rule out an investment in Japan. “If it makes business sense, [Las Vegas] Sands will for sure be back. They did not leave Japan… forever,” it noted.


  • tweet
Related articles
  • Moody’s expects MGM, Wynn to pursue large IR development 
    Moody’s expects MGM, Wynn to pursue...

    Apr 08, 2021  

  • LVS assessing AML controls at Marina Bay Sands: report
    LVS assessing AML controls at Marina...

    Mar 29, 2021  

More news
  • Macau VIP GGR up 20pct sequentially in 1Q: govt
    Macau VIP GGR up 20pct...

    Apr 16, 2021  

  • NUSTAR complex in Cebu slated to open 2022: UHRI
    NUSTAR complex in Cebu slated to open...

    Apr 16, 2021  


Latest News

Macau VIP GGR up 20pct sequentially in 1Q: govt

Macau VIP GGR up 20pct sequentially in 1Q: govt

Apr 16, 2021  

Macau’s VIP gross gaming revenue (GGR) in the first quarter of 2021 reached nearly MOP9.13 billion (US$1.14 billion), up 19.7 percent sequentially, according to data released on Friday by the...
Read More
NUSTAR complex in Cebu slated to open 2022: UHRI

NUSTAR complex in Cebu slated to open 2022: UHRI

Apr 16, 2021  

Labour Day hols hotels to be 40-50pct full: Macau govt

Labour Day hols hotels to be 40-50pct full: Macau govt

Apr 16, 2021  

Macau may tie GBA backing to gaming tender: law experts

Macau may tie GBA backing to gaming tender: law experts

Apr 16, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.15 billion

Tax revenue collected by the Macau government from the city’s gaming industry in the first three months of 2021



Most Popular

  • Macau 2021 GGR could be half of pre- Covid-19 levels: FitchMacau 2021 GGR could be half of pre- Covid-19 levels: Fitch April 15, 2021
  • NUSTAR complex in Cebu slated to open 2022: UHRINUSTAR complex in Cebu slated to open 2022: UHRI April 16, 2021
  • Macau 1Q VIP GGR bad at 20pct pre pandemic: JP MorganMacau 1Q VIP GGR bad at 20pct pre pandemic: JP Morgan April 14, 2021
  • Sands China says no links to online gaming siteSands China says no links to online gaming site April 15, 2021
  • Bloomberry Quezon project in 2023, focus on preserving cashBloomberry Quezon project in 2023, focus on preserving cash April 16, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us