Caesars: Our mandate is to persue the Asian market more aggressively

Steve Tight, president of International Development for Caesars Entertainment, said the company's strategy to enter the Asian market has always been focused on working with the authorities and local business partners.

"We come frequently to Japan. Since the (casino) legislation passed, we renewed all our discussions and I think we are as well positioned as any of the other competitors in being succesful and obtaining one of the licenses," he said in an interview published by ShingetsuNews.

When asked about why choose Japan as Caesar's next casino and entertainment destination, Tight assured that the country has already shown its incredible potential.

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According to analysts, gambling spend in Japan is estimated at USD 30B invested in boat racing, sports betting and pachinko.

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"I think there is strong evidence that this market is going to be extremely successful. And when you look at the analysts studies, the size of the market is set to become the second largest behind Macau. Our mandate in Caesars is to persue Asia more agressivley because is where the growth is and not only in China."

Numbers

Although some casino operators have already talked big numbers for Japanese IR projects, Caesars executive said is early to have an accurate forecast for the investment.

"We still don't know the guidelines for the regulations and how the Government will decide to control their concerns about harm minimisation that would have an impact on the project."

He said once operators have a better understanding of the industry key drivers: revenue, expenses, tax rates and accessibility to the local market and tourists, they can talk about numbers.

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I think it can be a big number, he assured.

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Watch the full interview.