Wednesday, August 10, 2022

Sands unsure whether to focus on Kanto or Kansai


Las Vegas Sands would apparently like to build the largest IR in Japan, but they are currently unsure whether that entails focusing on the more certain prospect of Osaka, or else waiting for the possible emergence of Tokyo or Yokohama.

This was the gist of a late February interview with Sands’ Managing Director for Global Development George Tanasijevich, according to the account of the Sankei Shinbun.

The Sankei quotes Tanasijevich as saying, “At present we are making our best efforts to enter Osaka,” which he describes as “the realistic chance” for IR development.
At the same time, the Sankei was under the clear impression that Sands would rather be bidding for a site in the Kanto region, noting Tanasijevich’s comment that “Our business model and investment scale is also suitable for Tokyo and Yokohama.”

The Sankei’s own conclusion from speaking to Tanasijevich was that, “He didn’t deny that if Tokyo or Yokohama, which could be more promising in terms of growth, should emerge, then Sands’ eyes could at once turn to the Kanto region.”

During the interview, Tanasijevich also made clear that Sands’ precise strategy would also hinge on the timeline for making the IR bids, whether the national government would be conducting the bidding along a staggered schedule or all at the same time.

 

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