Las Vegas casino operator Sands estimates that it may need up to $10 billion to build a gaming resort in Japan.
According to Sands’ CEO Sheldon Adelson, the investment would be anywhere between $6 billion and $10 billion, including the land. In comparison, the company’s Singapore Marina Bay Sands development cost $6 billion.
Adelson is highly motivated to win the bid for operating rights in Japan which is forecast to become the world’s second-largest casino market in the near future.
Commenting on the massive opportunity, he added, “It’s the holy grail. It’s the ultimate of business opportunities. Singapore was a warm up to this.”
The move comes at a time when Japan has already made gambling on its territory legal. The country is currently in the process of adopting legislation that has to do with regulating the industry and selecting casino operators and locations. The format of the major gambling establishments is foreseen as “integrated resorts” that will offer hotels, casinos and shopping malls.