Chino, Japan, May 14—In another big setback for Shinzo Abe, Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson said May 12 he was killing his grand project for a casino and resort facility in Japan and instead funnel more resources in his company’s Macao and Singapore locations.
In a PRNewswire statement, Adelson said that Japan ‘would benefit from the business and leisure tourism generated by an Integrated Resort, the framework around the development of an IR has made our goals there unreachable’ and bid farewell to Japan.
It’s not surprising that SandS has called it quit in light of the fact that the Japanese IR project is smelling foul and crime what with the arrest of a lawmaker of Abe’s Liberal Democratic Party in January and questionable discussions at the government casino committee. (See The Prospect Jan. 30, 2020)
Adelson reportedly was planning to invest $10 billion to make a foray into the Japanese IR market. Its business in Las Vegas, Macao and Singapore fell victim to the coronavirus pandemic.
SandS’ withdrawal from the Japanese project leaves only two major foreign casino developers bidding to get in: Genting Singapore and Galaxy Entertainment of Macao.
(https://investor.sands.com/press-releases/press-release-details/2020/Las-Vegas-Sands-ends-pursuit-of-potential-Japanese-development-Chairman-and-CEO-Sheldon-G-Adelson-remains-bullish-on-companys-growth-prospects/default.aspx)
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