Galaxy Entertainment enters race for Japanese casino licenses
Wynn Resorts, Las Vegas Sands, MGM Resorts, and Macau-based Melco Resorts & Entertainment already said they expect to lay out plans for their first casino resorts in Japan.
“We see loads of potential in the Japanese market and aim to win a casino license there in cooperation with Societe des Bains de Mer,” said Francis Lui, Galaxy’s vice chairman and the eldest son of billionaire tycoon Lui Che-woo, on the sidelines of the group’s annual general meeting on Thursday.
The Japanese authorities are in the midst of drafting industry regulations due by December, including those on how to select locations and operators of integrated resorts which would combine casinos, hotels and malls.
Brokerage CLSA estimates Japan’s future casino sector to churn out over USD 10B in annual gaming revenue, while Citigroup analysts suggest the market is likely to become the second-largest on the planet after Macau.
In February, Melco chairman Lawrence Ho vowed at a forum to “spend whatever we need” to fulfil his goal of building integrated resorts in Japan.
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