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Las Vegas Sands CEO says Japan casino resort could cost up to US$10b

TOKYO: A resort hosting casinos in Japan could cost up to US$10 billion to construct, Las Vegas Sands Corp’s chief said on Tuesday , as the casino operator looks to win operating rights in what is widely expected to become the world’s second-biggest casino market.”It would be at least what we paid in Singapore, US$6 billion including the land, but it could be as much as US$10 billion,” said Chairman and Chief Executive Officer Sheldon Adelson at an investor conference in Tokyo, referring to Sands’ Marina Bay Sands property in Singapore.Japan legalized casinos late last year and is now drafting rules, due by December, on how to regulate the industry and pick operators and locations of so-called “integrated resorts” – large-scale complexes combining casinos, hotels and shopping.Though estimates of the potential size of the Japanese market vary, brokerage CLSA said just two resorts in major cities could generate a total of US$10 billion in annual revenue, growing to…

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