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may
31

Melco Resorts CEO prefers to have first casino in Osaka over Tokyo

Tags: Japan, Lawrence Ho, Melco Resorts.
Posted on Wednesday, May 31, 2017 by "T".

Lawrence HoIf you ask the Macau billionaire, he said he prefers to build their very first Japan-based casino in Osaka rather than in Tokyo. The Chairman and CEO for Melco Resorts and Entertainment Limited, Lawrence Ho, wishes to be given permission to construct an integrated casino resort on the man-made Yumeshima Island located in Osaka Bay or in the central district of Umekita in Kansai city.

The Hong Kong-based company, which already runs the City of Dreams Manila and Studio City Macau properties aside from the City of Dreams Macau and Altira Macau venues, is apparently competing against other heavyweights like Crown Resorts Limited, Galaxy Entertainment Group Limited, Las Vegas Sands Corporation and MGM Resorts International for one up to three casino licenses that the Japanese government is expected to authorize by the year 2019. Many other foreign firms are reportedly looking at areas in and around Tokyo in the hopes of cashing in on a viable market that could be worth up to $25 billion annually.

The Kansai region around Osaka is approximately an 8-hour drive from Tokyo and it is already home to various tourist destinations such as Universal Studios Japan as well as many different Buddhist temples of Kyoto. The place is basically a prime shopping area which is extremely popular to Chinese tourists.

On the other hand, Tokyo serves as the nation's financial and political center, and is headquarters to some of the world's biggest firms such as SoftBank Group Corporation, Hitachi Limited and Sony Corporation.

The 40-year-old Lawrence Ho said, "When you go to the Kansai region, it's more fun, really, and we're a company that focuses on fun and entertainment. I'm not so sure Tokyo needs an integrated resort. Tokyo by itself is amazing. It's like when people ask me "do you think New York and London need an integrated resort?" No, they don't."

Most Western-style integrated casino resorts usually include multiple shops, hotels and conference spaces, which means that the fairly cheaper price for land in Osaka could be a driving factor why the Melco CEO prefers the city of just about 2.7 million people over Tokyo with its populace of about 39 million.

According to a report from Carmen Lee and Margaret Huang, Bloomberg Intelligence analysts, it states that, "Tokyo's inflated commercial land prices are higher than the rest of Japan. T hat may dissuade casino operators from developing an integrated resort there, even with the city's population and infrastructure."

The official guidelines that were published earlier this month of May shall mean that municipalities and casino operators are being required to team up so as to be allowed to submit concrete proposals for the right one to be chosen as host of the nation's upcoming integrated casino resorts. This move has created a field full of fierce rivalry as casino companies attempt to woo their host cities.

Lawrence Ho even said, "Right now, there is a lot of speed dating. Sometimes, I go into a Japanese corporate's office and then I walk out and I see our competitors in the lobby."

Source: http://www.japantimes.co.jp/news/2017/05/29/business/favoring-osaka-macau-billionaire-says-tokyo-doesnt-need-casino/#.WSzdvLgxF8E

 


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9 comments for "Melco Resorts CEO prefers to have first casino in Osaka over Tokyo"

 Gerimantas5/31/2017 8:51:09 AM GMT
2.7 million of people in osaka is of course very small if we compare with 39 millions of people in tokyo, but it still very many customers. In my country we have about 3 million of people in all country and we have about 2-3 casinos in 3 manor cities and many slot pubs
 doubletop7775/31/2017 8:56:25 AM GMT
I cant wait to see what this finished casino looks like. I can only imagine the splendor of it all and it would be a dream come true to play there one day. Japan has a huge market so this should make a lot of money
 pochui5/31/2017 11:25:30 AM GMT
well yeah, just like gerimantas dude said i can testify that i am living in a city with only 250k population and we have 3 casinos, so sure there's more than enough room to build this so called integrated resort in osaka, especially if prices are more reasonable there.
 dule-vu5/31/2017 11:55:20 AM GMT
I didnt find how many casinos they have in osaka,but even if they have few,this will be something special for whole city and first resort in that area and probably they will have lot of players,who will spend time in this resort!we can just wait to see first pictures of this casino resort!
 Mober5/31/2017 6:46:46 PM GMT
That is exactly, a definition for wealth.
Having a money to built a casino resort wherever you like.
The casino business is booming lately, with more and more of them popping everywhere.
And we can see that online too.

 DaCapo716/1/2017 9:29:04 AM GMT
This location was verry espacially and he will make a lot of money with a casino in Japan. I think their are a lot of gamblers like overall in the world and it was a money machine with a legal license to open a casino their.
 Mober6/1/2017 7:23:12 PM GMT
The asian market was always big in gambling.
And in macau they have lost of casinos.
Too many chinese are gambling, so along with their population, plus the tourist market
ongoing there, a good new casino will just be a success story.
 Tony_MON7ANA6/3/2017 7:16:33 AM GMT
One billion, not just one million. One billion is one thousand million. So, this Chinese mogul has thousands of millions of dollars at his disposal. Can you imagine what it is really like to be a billionaire?
 Gerimantas6/3/2017 7:59:28 PM GMT
No tony mon7ana i don't know what id really like to be a billionaire, the only reason is that I have no billions Tongue but i can try to imagine that it is very nice thing to gave so much money, you can buybwgat you want and you can visit any place in the world you like,

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