Land of the Rising Bet
The ruling party of Japan has entered into initial conversations with global gaming companies to operate what would be the nation’s first casino sometime after 2010. After holding a casino study group, it is believed that Japan could offer two to three gaming licenses for slightly less than the $3 billion it cost for casino investments in Singapore. Talks have already begun with Sheldon Adelson’s Las Vegas Sands Corporation and Harrah’s Entertainment. "They are definitely interested and serious about coming to Japan," said Toru Mihara, advisor to the Liberal Democratic Party’s study group. "They all agree that Japan will be one of the most lucrative casino locations in the world, with so many ordinary people spending lots of money." Both companies stated that they would be interested in the market without confirming that discussions have taken place. The two companies are in very different positions within the Asian gaming market with the Sands Corporation already operating in Macau, China and approved for one of two licenses in Singapore while Harrah’s Entertainment is still looking to secure their first license in the blossoming and profitable market. Mihara further noted that Tokyo is the obvious first choice while other potential locations could include land near Osaka’s Universal Studios and the resort areas of Hokkaido and Okinawa.
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