Las Vegas Sands Confirms Osaka Casino Integrated Resort Ambitions as Analysts Claim 2025 is Unlikely Date For Opening

As the race for a Japanese integrated resort heats up, more and more international casino operators are expressing explicit interest in one of the future licenses and positions in some of the proposed city-venues. One of them is Osaka – and it’s the preferred choice of industry leviathan, Las Vegas Sands (LVS).

Namely, LVS has narrowed their ambitions down to certain regions of Japan where they will focus their attention in regards to the potential construction of an integrated resort.

A Big Competition

According to some reports by Inside Asia Gaming…

…that region is the city of Osaka. This marks a shift from the brand’s previous statement that they are reluctant to limit their choices to one specific region. Company officials have stated that as many as seven operators ed to take part in the IR request for concept, during a meeting held by the city earlier in June.

One big competitor, MGM Resorts International, also announced they plan to make a move on Osaka. They declared this to be their sole focus in January.

Full by AGA

Japanese soil, saying they will be a “success story”…

…after which, LVS managing director of global development, George Tanasijevich, pointed out that Osaka became the “company’s top target” in the midst of uncertainty concerning integrated resorts in Tokyo and Yokohama.

Comments Tanasijevich:

“Public opinion polls don’t indicate for IRs and Tokyo seems preoccupied with preparations for the Olympics. We think the possibilities are very low for both cities at this point. The [Osaka] government has made it very clear what kind of IR they are looking for.”

Has Osaka Taken on Too Big of a Task?

There is much excitement and a sense of huge ambition all throughout Japan right now – but nowhere quite as much as in Osaka. However…

…analysts warn that the idea of opening an IR in this city before the 2025 World Expo could be unachievable due to the government-issued delays earlier this year that could place the IR question on the backburner until early 2020, having pushed the formation of Casino Management Board back.

Consultancy firm, Global Market Advisors, s this skepticism by stating:

“If there is not a process in place by the second quarter 2020, it is unlikely that a full integrated resort would be open in time to meet the desires of Osaka for the World Expo in 2025.

There are 67 months until the start of 2025. As such, licences would have to be awarded within the next 12 months to have a chance at opening a complete integrated resort that is ready to go by 2025.”

Source:

“Las Vegas Sands follows MGM’s Osaka Backing”, casinobeats.com, June 21, 2019.