Melco Crown Entertainment bared plans to invest over USD 5 billion to build casino resorts in Japan. Melco Crown is the joint venture firm of Macau casino tycoon Lawrence Ho and Australian gaming billionaire James Packer.
In an interview with Bloomberg, Ho said Japan held huge potential for integrated resorts. "If Japan opens up and allows integrated resorts in Tokyo, Osaka, the market could easily be in excess of $10 billion to $15 billion or more."
Wynn Resorts Ltd, MGM Resorts International and Las Vegas Sands have also been seeking for more opportunities in Japan. With the country's selection as the host of the 2020 Olympics, casino operators were confident that the government would legalize their operations. Wynn Resorts and MGM had earlier said that they would be putting several billion dollars in Japan. Both companies and Melco Crown also said they were considering partnering with a local group to carry out the project.
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