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Caesars Hopes to Build a Casino in Japan

Caesars Entertainment hopes to build a casino resort in JapanGiven its present financial situation, some have been surprised to learn that Caesars Entertainment plans to construct a casino resort in Japan if gambling is made legal in the country and if Caesars were to be given a Japanese gambling license. If the Japanese government does pass legislation later this year allowing land based casinos (Read Casinos for Japan finally on the horizon?), there are several other major international casino operators also looking to acquire one of the few casino gaming licences that may be on offer. Companies such as MGM, Melco Crown Entertainment and Las Vegas Sands have all shown interest in investing in any future Japanese gambling market.

Caesars may invest up to 5 billion dollars

Gary Loveman, the Chief Executive Officer of Caesars Entertainment has said that the company would be prepared to spend 5 billion dollars or even more to construct a casino resort in Tokyo if the company was granted a Japanese gambling license. However, it is not yet certain that Japan will legalise land based casino gambling at all. The debate on the matter has been ongoing for a long time. The bill is now due to be discussed in the autumn when parliament reconvenes and the Japanese Prime Minister has spoken of the addition that integrated casino resorts could bring to the country’s economy. It is believed that the Prime Minister’s ruling political party will pass the necessary legislation this autumn since the 2020 Olympic Games will be held in Tokyo and the government would hope to have casino resorts operational before the event to benefit from the huge amount of tourists attracted by the Olympics.

Caesars claims it can finance Tokyo casino

Even though the Nevada based company is facing increasing opposition to its plans to restructure its financial situation in the United States, Caesars has claimed that it would not face any major problems in financing a casino resort in the Japanese capital. Caesars has also held talks with some Japanese companies that are willing to form the partnerships required for international casino operators before they can apply for a Japanese license. It is believed that if the necessary legislation is passed that the Japanese gambling market could become the second largest in the world after Macau.

By | 2014-07-03T15:12:51+00:00 July 3rd, 2014|Caesars Entertainment, Casinos Japan|0 Comments

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