Melco Crown plans $5 bln Japan casino, seeks local partners

Melco Crown is considering a $5 billion Japan casino project that would be even more elaborate than the company’s City of Dreams resort in Macau, The Australian newspaper reported, citing Todd Nisbet, the executive leading the Japan bid. Melco is in talks with several Japanese companies, including some with operations in Australia, he said. The company also expected to wrap up negotiations on a separate project in Sri Lanka before the end of the year. “Japan is the biggest single opportunity that we are looking at in terms of an international expansion and growth story, just because of the sophistication of the market, the appeal of the overall area,’’ Nisbet said. Crown head James Packer, speaking in Tokyo said the company has held preliminary talks with potential Japanese partners in a casino. “I do not envisage an integrated resort in either Tokyo or Osaka would be successful at anything under $5 billion,” Packer told reporter. “The cost for the successful applicant would probably be more than $5 billion.”

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