high-roller gambling: Chief Executive Officer James Murren said MGM would spend between ¥500 billion and ¥1 trillion on an integrated resort — a large-scale project combining casinos with hotels, shopping and conference space — in Tokyo, Yokohama or Osaka, according to The Japan Times. Multiple blue-chip companies would look for an equity stake in an MGM-led project, he said, suggesting high hopes for a Japanese gaming market that brokerage group CLSA says could be worth $40 billion annually. Casinos are currently banned in Japan, but the odds of their legalization have improved sharply thanks to political shifts that could open the world next great frontier for high-roller gambling. We think there would be a tremendous amount of demand, and ultimately a public listing of these types of Japanese resorts would be very appealing, Murren said in an interview Monday. If a law laying the framework for legalized casinos passes the Diet, fresh legislation would set out details such as the location of the casinos. Rival operators keen to enter the market include Las Vegas Sands Corp., which said in 2014 it would invest up to $10 billion in Japan.
(news.financializer.com). As
reported in the news.
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