Las Vegas Sands is No Longer Interested in Japan

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. For years, this company has discussed opening a new casino-resort in Japan. Interestingly, news is now coming out that this company is giving up its plans to break into the Japanese market.Las Vegas Sands Logo

It’s not entirely surprising. It will be very tough for any major casino company to invest billions into a new property right now. Today, we’re going to discuss the reasons that Las Vegas Sands is now choosing to stay out of Japan.

Let’s get into it!

Officials Within LVS Continue Looking at Plans to Reopen Las Vegas Casinos

The past two months have been the hardest-ever for Las Vegas casino companies. All of the companies with casino-resorts in this city have seen their revenue plummet after being forced to shut down. Incredibly, it’s still unclear when exactly casinos in Las Vegas will be able to open their doors again.

That isn’t stopping casino companies from coming up with plans to reopen their casinos. Las Vegas Sands has been one of the most active companies working to reopen its gaming venues. Company officials have proposed many measures to safely allow guests in again.

Fortunately, things are improving. Last week, the Nevada Gaming Commission approved a set of guidelines for reopening casinos. This government body wants to ensure that casino companies are taking the necessary steps to protect their employees and patrons.

Company officials at LVS already have several safety measures planned. That includes multiple Covid-19 tests for its employees. As most already know, this company owns and operates the Venetian and Palazzo Hotel-Casinos. LVS plans on doing multiple tests for its employees before the casinos reopen.

If all goes according to plan, things will start getting back on track sometime in June. Until that time, however, companies like Las Vegas Sands will continue to lose a huge amount of revenue every single day. News is now coming out that this company is giving up its plans to break into Japan.

Las Vegas Sands Announces it’s Giving Up Casino Plans in Japan

For many years, Japan had some of the strictest gambling laws in the world. The government here worked to ban virtually all forms of traditional gambling. To the surprise of many, things changed in 2018 when lawmakers here decided to legalize casinos.

Under the set of laws, three casino-resorts will be given permission to open in this country. Many analysts predict that Japan will quickly grow to become one of the most lucrative casino markets in the entire world. As a result, many of the top casino companies in the United States have been pushing to obtain a casino license here.

That includes Las Vegas Sands. Initially, this company announced it wanted to open an integrated resort in the city of Osaka. Later, it abandoned these plans and claimed it was focused on opening a gambling venue in Tokyo.

Now, it seems this company is giving up its plans to break into the Japanese market. According to a report by Bloomberg, the fact that casino licenses would only be good for 10 years was a major factor in this decision. LVS CEO Sheldon Adelson released a statement on this situation to the media this week.

“We are grateful for all of the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities,” Adelson said. 

Many believe the situation at home in Las Vegas is also playing a major factor in this decision. It would cost an incredible amount of revenue to open a Japanese casino-resort and at the moment, all US casino companies are bleeding money.

Which Major Casino in Las Vegas Will Open First?

In some ways, casino companies in Las Vegas have been in a race to reopen. All of the companies here have been working with city and state officials on ways to safely resume operations. With guidelines now approved, many feel we’re just a few weeks away from seeing the Las Vegas Strip reopen.

It’s still unclear which of these casino-resorts will be the first to reopen. Not long ago, we reported that some of MGM Resorts’ properties including the New York-New York Hotel & Casino and The Bellagio might be the first to open again. Some now feel that the casinos owned by Las Vegas Sands will be the first to start accepting guests again.

As we mentioned earlier, this company already has a number of safety measures set in place. Guests and employees will be required to wear masks. Thermal cameras may also be installed to identify those with fevers.

Some feel Wynn Resorts will be the first casino company to get things back on track. Not long ago, news broke that this company saw its revenue decline by 42% for the first three months of the year. Officials are doing everything they can to change that trend for 2020’s second quarter.

The truth is that no one knows when Las Vegas will start getting back to normal. Things are constantly changing and Governor Steve Sisolak may decide to extend the state’s current measures. It’s an incredibly tough situation.

We’ll need to wait for more news on Las Vegas’ casino plans. Stay tuned for updates!

MGM Resorts in Osaka Now Seems Highly Likely

In mid-2018, lawmakers in Japan shocked the world by passing a bill to legalize casino gambling. It was a huge change, as Japan previously banned virtually all forms of gambling. Since the bill was passed, every single major US casino company has pushed to obtain a casino license here. Now, it appears that MGM Resorts in Osaka is on the horizon.MGM Resorts Logo

New reports indicate that this company is the favorite to obtain a casino license in this city. It’s fantastic news for the Las Vegas-based gaming operator. Today, we’re going to talk about this company’s move into Japan.

Let’s get into it!

Japan Shaping Up to Be One of the World’s Biggest Casino Markets

For decades, Japan was considered one of the least-friendly gambling countries in the world. Government officials here banned just about all forms of gambling shortly after World War Two. Pachinko, a sort of slot-machine style game, is the only form of gambling allowed in this country.

This is beginning to change now. In 2018, officials here finally decided it was time to earn revenue from the gambling industry. The government approved a bill to legalize three casino-resorts in the country.

That doesn’t mean casinos became immediately available here. The government is taking its time coming up with a specific set of laws to regulate this new industry. Lawmakers are also working to decide which companies should be allowed to operate gambling venues in the country.

Analysts predict that Japan will quickly become one of the largest casino markets in the world. There are a huge number of individuals here that will gamble and casinos will help to bring in gambling tourists from many nearby countries. Unsurprisingly, just about every single major casino operator has pushed to obtain a casino license here.

This includes MGM Resorts International. This company has looked to operate a gambling venue in Osaka for years. Now, it appears that MGM Resorts in Osaka is becoming a reality.

MGM Resorts in Osaka Might be Just Around the Corner

Osaka is one of the biggest cities in Japan. It’s expected to be one of the three casinos chosen to host a casino-resort. MGM Resorts International has repeatedly stated that it wants to operate a venue here.

News is new coming out that MGM Resorts is the lead bidder to obtain a casino license in Osaka. The Las Vegas-based casino operator is teaming up with Japan’s Orix Corp to build and run this new property. MGM is willing to invest billions into a new casino-resort in Osaka.

MGM Resorts in Osaka is not a guarantee, though. For now, the company is only the lead bidder. The local government will officially decide on which company will receive a license this June.

It seems highly likely that MGM will be chosen, though. Not long ago, Wynn Resorts announced it was no longer interested in opening a gambling venue here. Las Vegas Sands and Melco Resorts & Entertainment have also withdrawn from this city.

Osaka is expected to be the first city that grants a casino license. A casino here would greatly expand MGM Resorts International’s portfolio.

That’s not the only interesting thing happening with this casino company.

Jim Murren’s Departure From MGM Drops Share Prices

Since 2008, Jim Murren has been the CEO of MGM Resorts International. During his tenure as company leader, he’s helped to significantly expand the company’s portfolio. He’s also credited with saving the company from bankruptcy during the recession of 2008 and 2009.

This week, Murren announced that he’s stepping down as CEO. His contract was set to expire soon, yet it appears he’s ready to call it a day a little early. The company is currently searching for a replacement. In the meantime, Murren is remaining as CEO.

Shortly after Murren’s announcement, MGM Resorts’ share prices began to plummet. After the markets closed on Wednesday, the company’s stock fell by 5.5%. Several analysts have questioned what the company’s next strategy will be.

It’s clear that overseas expansion is in the works. MGM Resorts in Osaka seems inevitable. There’s also a chance that this company begins pushing into new countries in Asia, as well.

MGM is likely to announce its new CEO over the next few weeks. There are plenty of options to choose from. Whoever steps into the position has some big shoes to fill.

Stay tuned for more news on MGM Resorts International over the next few weeks!

Japan Begins to Study the Las Vegas Casino Model

In 2018, lawmakers in Japan officially approved a bill that legalizes casino gambling. It was a huge moment for the country, which had previously banned almost all forms of gambling. Officials here are still working to create a plan for the three casino-resorts to begin operating. Recently, Japan has begun to study the Las Vegas casino model for support.Famous Las Vegas Sign

Las Vegas is still considered the gold standard for the US casino industry. Here, most of the country’s top gambling venues are located. Let’s take a look at what Japan hopes to learn from this city.

Lawmakers in Japan Continue to Debate Over Regulations

For a time, it seemed as if Japan would never open up its casino industry. For decades, nearly all forms of gambling have been strictly prohibited in this country. Only mahjong, a tile-based skill game, allows individuals here to wager money.

It seems that the country’s lawmakers finally realized how much money they were missing out on. Nearby Macau is considered the biggest gambling hub in the world. Even the Philippines now operates a massively successful casino industry.

In July of 2018, Japan officially decided to legalize casino gambling. Under the current plan, three casino-resorts will be allowed to open in the country. Before this can happen, though, lawmakers are coming up with a set of regulations.

Government officials here want to ensure that rates of gambling addiction and crime do not increase once casinos are introduced. Today, a huge number of countries in Europe are dealing with rises in problem gambling. Several regulations have been introduced in Japan to avoid this, yet lawmakers are still debating exactly what should be allowed and what should not.

The first gambling venue will not begin operating in Japan for at least a couple more years. In the meantime, officials will be working to come up with an exact plan for the casino-resorts to get up and running.

Japan Looks at the Las Vegas Casino Model For Support

There is no better city to look for regulation over a casino market than Las Vegas. As we already mentioned, many of the world’s biggest and best casino-resorts are located here. Officials in the city have decades of experience monitoring and taxing casino-resorts.

Recently, several officials in the Japanese casino industry have begun asking for help from Las Vegas gaming regulators. Not long ago, these officials invited Becky Harris to speak on effective casino regulation. Harris recently spoke with the Las Vegas Review-Journal about her experience in the country.

“Japan is still working on creating their regulatory environment, so there’s a lot of speculation as to what that could look like,” Harris said. “One of the models that Japan is looking at is Nevada, so there were some questions about the way that Nevada regulations work.”

Macquarie analyst Chad Beynon claims that Japan is looking to implement similar measures that Las Vegas currently has. Not everything will be applicable in Japan, yet the Las Vegas casino model should provide a solid regulatory outline.

Analysts Continue to Expect a Bright Future For Japan’s Casino Industry

Almost immediately after the news broke of Japan’s legalization of casino gambling, analysts began predicting how profitable the market would become. New reports indicate that it will grow to become the third-largest casino market in the world. Some even claim it will generate $25 billion annually.

Unsurprisingly, a huge number of major US casino operators are attempting to break into this market. MGM Resorts International, Wynn Resorts, and Las Vegas Sands have all expressed a desire to break into Japan.

Interestingly, Caesars Entertainment claims that it’s no longer interested in entering Japan. The company is set to merge with Eldorado Resorts. It seems highly unlikely that a move into Japan is even possible for Caesars right now.

Officials are still waiting to choose which three companies will be granted a casino license here. Based on what’s being said, both MGM Resorts International and Las Vegas Sands seem the most likely.

We’ll need to wait and see how much the Las Vegas casino model influences Japan. Make sure to stay tuned for more updates over the next few weeks!

Caesars Entertainment No Longer Interested in Japan

One of the biggest US casino companies has announced that it’s no longer pursuing a casino in Japan. It’s surprising news, as Japan is expected to become one of the most lucrative casino markets in the world. The company claims that it is focused on expanding in the United States. Caesars Entertainment Logo

It makes sense for Caesars to focus on the US market. Now is the perfect time to look at why this company is staying out of Japan. We’ll also talk about which companies are still in the running for a casino license in this country.

Caesars Entertainment Set to Merge With Eldorado Resorts

Not long ago, Eldorado Resorts announced that it purchased Caesars Entertainment for $17 billion. It’s the largest merge ever made in the gambling industry. Eldorado will be taking control of Caesars’ properties around the world.

Many steps still need to be taken before this merger can be completed. Several state gambling regulators are getting involved to ensure that everything is done by the book. The SEC must also approve of the deal before the companies can officially combine.

Caesars is rumored to sell some of its properties before the deal is complete, as well. According to numerous reports, the company will put some of its Las Vegas Strip properties for sale. Several companies have already expressed interest in buying one of these Strip hotel-casinos.

Hope is that this deal is done by the end of 2020.

When Japan legalized casinos in July of 2018, Caesars announced that it was interested in opening a resort there. Now, the company is taking a turn. Officials at Caesars Entertainment claim they are no longer pursuing a Japanese casino license.

Caesars Removes Itself From Japanese Casino License Running

As we mentioned at the top of this page, Japan is expected to become one of the most lucrative casino markets in the world. Many of the top US casino companies are pushing to obtain a license here. Interestingly, Caesars is no longer one of them.

This company released a statement on Wednesday that explains their decision to stay outside of Japan. Brendan Bussmann, a partner at Global Market Advisors, gave his take on the news.

“Considering the current talk of the (Eldorado) merger, it’s not surprising,” he said. “To see a large American brand that has a global presence, that has a good shot of landing the license bow out, it’s disappointing … It’s a missed opportunity.”

Caesars is focusing entirely on its merge with Eldorado Resorts. The company needs to ensure that everything is prepared before this deal can go through. Of course, it’s still somewhat disappointing to see the company choosing not to enter Japan.

Other US casino companies have to be pleased. It’s still anyone’s guess which of these companies will be granted a license to operate here. Let’s look at which gaming companies are still working to enter the Japanese casino market.

Several Companies Still Looking to Enter Japan

Most gambling analysts predict that Japan will become one of the biggest casino destinations in the world. Only three integrated resorts will open here. Several cities including Osaka, Yokohama, and Tokyo are bidding for their rights to host one of these casino-resorts.

MGM Resorts International, Las Vegas Sands, and Wynn Resorts have all stated their intentions to open a Japanese casino. In order to obtain a gaming license here, these companies must receive approval from the government. No companies have been granted one of these licenses yet.

Las Vegas Sands seems the most likely to obtain one of these licenses. LVS has deep roots in Japan and has a proven track record of operating casinos overseas. This company already runs a highly successful casino-resort in Macau.

MGM Resorts International is also very likely to receive a Japanese casino license. This company secured a sponsorship with the MLB during the opening games in Tokyo. It’s already a well-known brand in Japan and also has shown that it can operate gaming venues outside of the United States.

Caesars Entertainment is no longer pursuing a casino in Japan. We’ll need to wait and see which of the companies we just mentioned obtain a license to operate here. Stay tuned for more updates over the next few months!

Las Vegas Sands No Longer Interested in Osaka Casino

Most of the top US casino companies are pushing hard to open a casino-resort in Japan. For months, many of these companies have expressed interest in launching a casino in Osaka. In an unexpected turn of events, Las Vegas Sands has announced that it’s no longer interested in this city.

Osaka Japan Street View

Japan is expected to be one of the most lucrative new casino markets in the world. Now is a great time to look at why so many companies are working to operate here. We’ll also talk about the Sands’ decision to stay out of Osaka.

Japan Expected to be the World’s Next Major Casino Market

Historically speaking, Japan has been fiercely against the gambling industry. For decades, the only real form of wagering allowed here was Mahjong. Traditional casino-style gaming was strictly prohibited.

This includes online gambling, as well. Japanese lawmakers have cracked down on the internet gambling industry. The government blocks all foreign gambling sites from operating in the country. Anyone caught gambling over the internet here faces heavy fines and potential jail time.

Fortunately, the government is changing its stance on land-based casino gambling. In July of 2018, lawmakers in this country approved a bill to allow three “integrated resorts” to open. The casinos here must include a wide range of non-gambling amenities for guests. Before any casinos can open, cities in Japan must bid for the right to host one.

Several cities have already expressed interest in having a casino. Tokyo, Yokohama, and Osaka are three of the top choices right now. Interestingly, Las Vegas Sands is claiming that it’s no longer interested in launching a casino in Osaka.

Las Vegas Sands is Staying Away From Osaka

Osaka has been at the top of many gaming operators lists when it comes to potential casino sites. Officials here have announced that they will officially bid for casino hosting rights. Many companies, including MGM Resorts International and Wynn Resorts, have expressed interest in launching a new integrated resort here.

Las Vegas Sands is now choosing to avoid this city. Instead, the company will focus on other cities including Yokohama and Tokyo. It’s an interesting development, as the Sands was one of the first companies that pushed for a launch in Osaka.

CEO Sheldon Adelson gave a quick statement to the media about the switch. According to the Las Vegas Sands official, other cities offer more lucrative opportunities for the company.

Adelson claims that his company wants to “target new development opportunities that allow us to maintain our industry-leading returns on invested capital — and we think an investment in Tokyo or Yokohama gives us the best opportunity to do exactly that.”

Las Vegas Sands has engaged in talks with Osaka politicians for years. It’s a major surprise to see this company deciding to change its tune. Is Yokohama the main target now?

Yokohama Announced Bid to Host Japanese Casino

Yokohama is the second-most populous city in Japan. For months, politicians in this city maintained that they were not interested in opening a casino. Many residents here feared that opening a casino would increase crime and gambling addiction.

City officials are now backtracking. This week, Mayor Fukimo Hayashi announced that the city is officially asking for the government’s permission to open a casino.

“I’ve come to the conclusion that in order to achieve growth and development, we need [an] IR,” she said. 

Las Vegas Sands isn’t the only company now pushing to open a casino in Yokohama. MGM Resorts and Wynn Resorts are now looking at this city as a potential casino location, as well.

As we mentioned earlier, only three casino licenses will be handed out here. Revenue from the casino industry is expected to total $20 billion a year. Some now believe that in time, Japan could overtake Macau as Asia’s top gambling destination.

There’s a lot going on here. The first Japanese casino isn’t expected to open until 2025. Make sure to stay tuned for more news on Japan’s gambling industry over the next few months!

Japan is the Main Target for Most of the Top US Casino Companies

Last summer, lawmakers in Japan passed a bill that allows for three casinos to open. It’s the first time in history that Japan has legalized traditional casino gambling. This week, several of the top US casino companies began pouring on the pressure to start operating here.

Flag Of Japan

Most analysts agree that Japan is one of the most lucrative new casino markets in the world. It makes sense that so many major gambling operators are working to establish a presence here. Which of these companies is most likely to be granted a gaming license?

Japanese Cities Lobby For the Right to Host Casino Resort

In July of 2018, Japan’s Parliament officially approved casinos to begin operating in the country. Under the new laws, three “integrated resorts” can open here. These casino-resorts must include several non-gambling options including hotels, shopping centers, and conference rooms.

Cities in Japan must formally receive government approval to open a casino. First, however, these cities need public approval. Several cities are already working for the right to host one of the three integrated resorts.

Yokohama Mayor Fumiko Hayashi has announced that she plans to lobby for a casino. This city is the third-largest in Japan and several of the top US casino companies have already requested to open an integrated resort here. Despite some residents here raising concerns over gambling addiction issues and crime associated with casinos, Fumiko is going ahead with the resort bidding process.

Osaka is another city that’s pushing hard to open a casino. MGM Resorts International has publicly stated that it hopes to begin operating here. Japan Today recently discussed Wynn Resorts new push to open a gambling establishment in this city, as well.

Top US Casino Companies Increase Pressure to Open Integrated Resorts

Japan is taking its casino regulations very seriously. The casino bill was passed in 2018, yet it’s unlikely that any casino-resorts will officially begin operating here until the mid-2020s. This isn’t stopping the biggest casino companies in the US from throwing their name into the mix.

Last July, members of Wynn Resorts held a seminar in Everett, Massachusetts to discuss the casino industry with members of the Japanese media. This city is home to Wynn’s newest resort, the Encore Boston Harbor. Chris Gordon, president of Wynn Resorts Development Japan, spoke to the media about his company’s plan to invest back into the Japanese community.

“We hope to get involved in projects in such major cities as Tokyo, Osaka, Yokohama,” he said.

Gordon also claims that casino-resorts in this city will create as many as 16,000 new jobs. The Wynn’s official also wanted to inform the media about the recent approval of casinos from Japanese students at Harvard University, located just miles away.

MGM Resorts and Las Vegas Sands are also working hard to break into Osaka. These companies are teaming up with local Japanese businesses to help lobby in parliament.

Which Company Will Receive a Casino License Here First?

At this point, it’s anyone’s guess. For a time, it seemed as if MGM Resorts International had the best chance. This company gained a sponsorship with the MLB during the season’s opening games in Tokyo. The marketing push gave MGM great exposure in the country.

Wynn Resorts is also gaining traction in Japan. By inviting members of the Japanese media to a seminar, it gives the company free advertising. The success of the Encore Boston Harbor hotel-casino is also likely to help their chances in this county.

Some gaming analysts feel that Las Vegas Sands is most-likely to receive the first gaming license in Japan. This is one of the top US casino companies operating today, and already has deep ties in Japan. Sheldon Adelson, CEO of LVS, sold the Comdex technology trade show to Japanese business conglomerate Softbank in 1995.

Yokohama is set to announce its candidacy to host an integrated resort this week. Smaller cities such as Hokkaido are also being targeted for a new casino. Make sure to stay tuned for more news on the Japanese casino industry over the next few months!