Sheldon Adelson, the chairman and chief executive officer of Las Vegas Sands (LVS), said his company would reconsider its position on Japan if the country adopted a more investor-friendly regulatory framework.
The casino operator formally withdrew its interest in Japan in May, citing concerns about the legal and regulatory framework in the country. Among the issues at stake are the high costs of developing an integrated resort, a relatively high level of taxation on gaming activities, and likely restrictions on gambling by Japanese nationals.
On an earnings call last week, Adelson said that some of the rules in the nascent casino jurisdiction were proving problematic. However, Adelson did not rule out a return to Japan if the conditions change.
“There were just too many negative regulations that we couldn’t live with,” said the LVS chairman. “If they change it, our mind is open to go back.”
Japan has long been on the radar of international casino operators, with the jurisdiction thought likely to become one of the biggest casino markets in the world.
The country has begun a tender process for up to three integrated resorts licenses in three cities or prefectures. Osaka, Yokohama and Tokyo are widely seen as frontrunners. DB
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