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Japan Eyes Bet on Las Vegas Lure

26 Jul 2006

JAPAN -- As reported by Bloomberg News: "Japan's ruling party is holding talks with global gaming companies including Las Vegas Sands Corp and Harrah's Entertainment Inc to operate the nation's first casinos after 2010, Bloomberg News reported.

"The government may initially issue two to three casino licenses for gaming resorts that would each cost 'slightly less' than Las Vegas Sands' US$3 billion investment in Singapore, said Toru Mihara, adviser to the governing Liberal Democratic Party's casino study group.

"'They are definitely interested and serious about coming to Japan,' Mihara said in an interview in Singapore on Monday. '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.'

"The nation of 128 million is looking to lift its ban on casinos to increase tourist arrivals and revive its gaming industry as the more traditional horse-racing and lotteries are suffering declines in revenue, and its pachinko industry is stagnating, he (Mihara) said..."

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