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Las Vegas Sands ends plans to open Japan integrated resort casino project


Las Vegas Sands said in a statement on Wednesday it has ended its plans to open an integrated resort (IR) casino in Japan.

"The framework around the development of an IR has made our goals there unreachable," Sands Chairman Sheldon Adelson said in the press release.

The move comes after the casino operator in January expressed its bullishness on Japan and put on magic shows and Broadway musical numbers to drum up enthusiasm for the industry at an exhibition in Yokohama.

Japan wants to build several integrated resorts -- Las Vegas-style complexes that include casinos, shopping arcades and conference centers -- although a bribery scandal has hardened public opposition to the plans.

The government has authorized licenses for three integrated resorts and has been expected to receive bids officially from interested cities in 2021.

Potential bidders include Yokohama, Tokyo, Osaka - Japan's three largest cities - and smaller cities including Nagasaki and Wakayama.

© Thomson Reuters 2020.

©2020 GPlusMedia Inc.

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A bit of good news.

2 ( +3 / -1 )

Coronavirus might kill or significantly delay the entire IR fiasco. Can't imagine too many folks wanting to be in a mass of people in an enclosed space for any extended period of time. Besides that, a lot of these developers will likely be going into survival mode for the next few years with conserving cash as the top priority. Don't expect to see anything anytime soon.

-1 ( +0 / -1 )

Good, no place for Las Vegas mafia in Japan..

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Good news for a change.

1 ( +2 / -1 )

Ah bad news I was hoping to use some real casino not that pachinko silver ball something.

Lets hope for better days.

-3 ( +0 / -3 )

Japan was too greedy with high taxes and short time periods.

Now. Japan can build more science parks or is that wishful thinking?

0 ( +0 / -0 )

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