Las Vegas Sands Corp (LVSC) has once again shown its willingness to expand towards Asia. One of the biggest casino groups in the world, LVSC has employed a different strategy from competitors such as MGM Resorts and Wynn Resorts focused on acquiring new properties in the USAby turning its head towards developments in unexploited markets.
LVSC has a $10 billion investment in a resort in Japan up its sleeve, together with the ambition to secure one of the two gambling operator licenses the country is about to issue. The corporation has a similar casino development plan as far as Vietnam is concerned. Given that the Vietnamese government has lifted the gambling ban on local citizens, Hanoi or Ho Chi Minh City may offer lucrative opportunities.
As an expert in developing Meetings, Incentives, Conventions and Exhibitions (MICE) resorts, LVSC is looking to replicate its domestic success on the Vietnamese market. Although the company will have to act with caution since legal gambling is on a three-year experiment in the country, the benefits are expected to outweigh the risks.
According to LVSC Managing Director of Global Development George Tanasijevich, a MICE project in Vietnam will encourage international investors and result in a significant tourism boost for the country.