In an interview published in Hong Kong Economic Times, he said the operator will need to wait for confirmation of the timetable to implement legislation before concrete plans can be made.
"The Lui family’s long-term development history in the country gives us advantages. We’re very confident,” the report quoted the deputy chairman as saying.
Galaxy will be joining a long list of global casino majors vying for a foothold in Japan, which is expected to become the second-biggest Asian market after Macau once casinos open. Las Vegas Sands and MGM Resorts have said they are willing to invest as much as US$ 10 billion, while Malaysia’s Genting, Melco Crown Entertainment and Wynn Resorts are among other big names betting on a license.
The
government of Prime Minister Shinzo Abe approved a bill through parliament in
the final hours of the Diet session last year. The legislation will provide an
overall framework for permitting casinos in the country, but separate
regulations now need to be developed spelling out the details for how the
resorts will operate.
Meanwhile, Lui also told reporters in Beijing that Galaxy’s investment in Phase
3 and Phase 4 of its resort on Cotai, will "definitely no less than” US$5.54
billion, which is around the same amount spent on the first two phases of the
project.
Source: GMB / AG Brief
