Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Why Most Investors LOST Money by Investing in ARK FUNDS - 27th Jan 22
The “play-to-earn” trend taking the crypto world by storm - 27th Jan 22
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Who Will Win the Race to Open a Casino in Japan?

Personal_Finance / Gambling Oct 13, 2020 - 12:28 PM GMT

By: Dylan_Moran


For decades, some in Japan have been pushing the government to allow for casinos to operate on its territory. One of the biggest supporters of this campaign has been Sheldon Adelson, the owner of the famous Las Vegas Sands Corporation.

Since the early 2000s, Adelson has been lobbying influential figures in the country to demonstrate to them the value that a casino could have in the country.

Having opened the famous Marina Bay Sands, an integrated resort in Singapore, Adelson believes a similar venture in Japan would be the “holy grail” for a casino operator. The American businessman put his money where is mouth is too, investing heavily in a bid to open an integrated resort in Tokyo.

After the Japanese Diet (parliament) passed legislation in the summer of 2018 that would allow for a small number of casinos to be built in Japanese cities, a bidding process began to find suitable locations and operators.

What about online casino games

While the new law allows physical casinos to be opened in Japan, the country does not look set to be ready to allow Casino Online Games to be played by its citizens.

The country has some of the strictest betting laws in the world, though some hope that the move to open physical casinos could eventually lead to online casinos being permitted as well.

Withdrawal of Las Vegas Sands

The Las Vegas Sands Corporation was one of the bidders and was widely tipped to be one of the companies who would eventually be granted a license.

However, Adelson’s Las Vegas Sands Corporation withdrew its bid earlier this year. In a statement given to the press, the company said that it felt that “technicalities” around how Japan’s casinos would be regulated meant that it would not be possible for the company to achieve its goals in the country.

Who will win the race?

In addition to the Las Vegas Sands Corporation, many other big names in the casino industry have been involved in the bidding process. This includes Genting Group, Galaxy Entertainment, Wynn Resorts, Caesars Entertainment, MGM Resorts and Melco Resorts, most of whom are heavily involved in other major casino operations like in Las Vegas and Macau.

Yokohama, Japan’s second-biggest city has said it has received proposals from 12 different companies, though Las Vegas Sands had not been one of them. Instead, it was focusing on the capital, Tokyo.

Osaka, another Japanese city has been targetted by MGM Resorts, with the company spending a lot of money on advertising and sponsorship in the country to help make its name more recognisable.

The outcome of the bidding process will not be known for several more months, with officials expected to begin reviewing the bids early in the new year. We won’t likely know the outcome until later in 2021.

Even when this is complete, construction will not likely begin for several months and years afterwards, so a Japanese casino is some way off yet.

By Dylan M.

© 2020 Copyright Dylan M. - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in