Sheldon Adelson gives up all his plans in Japan and Las Vegas Sands will focus on Macao and Singapore
Las Vegas Sands, Sheldon Adelson's company, ends its attempts to install one of its hotel and casino resorts in Japan. After several years trying to get a license - a process even accompanied by rumors about Donald Trump's active role in it - the company is already ruling out this investment and will focus on Macao and Singapore in addition to its US business.
After 2020 First Quarter results marked by significant decreases in revenues, and rather pessimistic forecasts regarding an early recovery forthe Covid-19 pandemic, Las Vegas Sands seems to definitively renounce its attempts to penetrate the complex Japanese market, of which Sheldon Adelson has always had a great interest.
We already noticed how in August 2019, Las Vegas Sands decided to withdraw in the tender for a resort license in Osaka province to focus solely on the possibility of getting the premises to build a single center in the Tokyo or Yokohama region. But little by little, this second plan has come to nothing. And it is that in a statement on Tuesday, President Adelson, made it clear that despite his "great interest and admiration for Japanese culture and the confidence that the country will be a tourist destination of great potential, the current context around the development of a casino and hotel resort has made the plan unattainable. "
"We are grateful for all the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities," Adelson concluded.
Thus, in terms of investments abroad, Sands will focus on continuing its expansion in Macao and Singapore, where the company is in the process of investing some 5.5 billion dollars to renovate various properties.
