“Our commitment to Japan is immense. It will be lots and lots of rooms—many, many rooms. There will be lots of retail. There will be lots of MICE (Meetings, Incentives, Conventions and Exhibitions), far beyond what people understand we’re thinking about for Japan,” Las Vegas Sands’ President and Chief Operating Officer stated.
Although Sands has largely avoided serious media scrutiny, Goldstein suggests that the company is in fact quite active within the country: “We are deep into it. We’re committed to it. We have a team on the ground there.”
He added: “We don’t go into markets and look for a cheap way to do things. Sheldon’s approach has always been scale. It’s been dramatic. It’s design driven.” And he also mentioned a specific venue: “We are fully committed to be in Osaka.”
The Japanese federal government is in the final stages of setting the regulatory environment for its gaming industry. Some of the revealed details include the casino’s accompanying hotel must be at least 1.1 million square feet, Japanese locals will be required to pay a US$53 entry fee, and the gaming space cannot make up more than three percent of the resort’s square footage.
Potential licensees bidding say the total investment will be in the several billions of dollars range.
Source: GMB / AG Brief
