Sheldon Adelson Ready To Spend “Whatever It Takes” To Enter Japan
It seems that Sheldon’s Adelson’s now infamous slogan of “whatever it takes” from his anti-online gambling crusade has become his new motto. Speaking on Monday the Las Vegas Sands Corp Chief Executive said they were ready to spend “whatever it takes” to set up shop In Japan which is considered by many as the second largest gambling market after Macau. When asked at an investor seminar in Tokyo if he would invest $10bn, Adelson said yes but jokingly said “would I prefer to do it at 7?Yes.”
The Las Vegas Sands groups is considered one of the favorites to obtain a gaming licence in Japan as it already has a strong presence in Singapore and Macau. Competition is stiff for the licence as estimates are that the Japanese market could be worth up to $15 billion in annual gaming revenues. Adelson is facing competition from MGM Resorts International, Macau-based Melco Crown Entertainment and Malyasia’s Genting Bhd.
We reported back in December last year on the efforts of legislators to introduce gambling legislation to parliament which is set to come up for debate in May, Should it pass a second bill will follow which could ultimately mean the bill passing in 2016. The Tokyo Olympics in 2020 are a big reason for this recent push for gambling as this could be another major draw card for global visitors.