Caesars Drops Out of Race to Open a Casino in Japan
Las Vegas based Caesars Entertainment was eager to operate one of Japan’s first casino resorts having all its concepts ready for Hokkaido, Yokohama, Tokyo and Osaka locations. Caesars Entertainment had a dream of owning Japanese Integrated Resort (IR) which has eventually come to an end. The casino operator will not pursue an IR license, instead it chose to focus on its merger with Eldorado Resorts.
The Japanese government faced major obstacles in order to introduce casinos in the country. Three licenses were issued the previous year and the first of these resorts were expected to open by 2025. The casino was anticipated to cost $10 billion. The decision to withdraw was taken out of sensitivity to the Japanese business partner and government, who must come into conclusion this year to advance the casino process, said CEO Tony Rodio.
“As Caesars has pursued a license to operate in Japan over many years, we have been treated with respect and goodwill by Japanese government, business and community leaders, and with kindness by all the Japanese people we have encountered during this journey,” said Caesars Chairman Jim Hunt.
The vision of opening resorts in Japan has been perceived as a huge prospect which can become Asia’s second largest gambling market after Macau, China. This opportunity will sustain country’s tourism boom by attracting number of international players. The Las Vegas Sands Corporation intended to build a resort in Tokyo region. Wynn Resorts Ltd also showed interest in the Tokyo Bay area and Yokohama, while MGM Resorts International is looking forward to pursuing a resort in Osaka.
Caesars Entertainment is the largest owner of casinos in the United States and they missed a chance to get a license in Macau. The company is struggling with a lot of debt. The scenario is still unclear to confirm when things will firm up. Keep reading GutshotMagazine.com for more information on casino industry around the world.
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