Wynn Vows to Build ‘World’s Largest Casino’ in Japan

Wynn in Japan

 

Wynn vows to build “the world’s largest casino” in Japan.

Wynn Resorts has big plans for its Japanese lobbying campaign, telling media outlets that it plans to build the ‘world’s largest’ casino resort in the country.

The company has yet to obtain one of the three gambling licenses currently available in the country but has big dreams for when they become available for bidding. 

Leader of Wynn Resorts’ campaign in Japan, Chris Gordon, shared the company’s vision at a  conference at Encore Boston Harbor in Massachusetts.

He told The Japan Times: “The government has set goals for the next 20 years to raise tourism to a very high level. We like that.

“It’s also a society that has had an interest in gaming. They certainly have gaming now, with pachinko, horses, and motorboats.”

Japan is set to become the third-richest gaming market in the world behind Macau and Nevada, so it’s not hard to see why the company wants a piece of the action.

Japanese lawmakers are currently finalizing the rules that will govern the licensing process.

Las Vegas Sands, MGM Resorts, Wynn, Melco Resorts, and Galaxy Entertainment are all expected to bid.

Caesar’s Entertainment recently pulled out of the battle for a license, saying it plans to stick with its current business plan and focus its $17.3 billion merger with Eldorado Resorts Inc next year.

Chris Gordon has refused to put a number on the amount the company is prepared to spend on a resort but has said it will be home to plenty of space for meetings, incentives, conventions, and exhibitions.

He has, however, specified that the goal is to build the world’s largest casino property, aiming for between two and three million square feet.

It is expected to be around 8 times larger than Wynn resort Encore Boston Harbor, which cost $2.6 billion to build and $4.2 billion in total to open.

Gordon added: “This would be much larger than the investment in Cotai. But the reason we didn’t put an exact number on it is it’s very early, we still have a lot of design to do, a lot to learn.”

The company has already told investors that it will be looking at an $8 to $9 billion investment should it win a license.

The Japanese government gave its approval for legalization of commercial gambling in July 2018 in order to further diversify the tourism focus put on the nation.

Only two major cities, Osaka and Yokohama. have expressed interest in hosting a casino due to public backlash.

Wynn hopes to open a venue in either city, but has also expressed interest in Tokyo.

Expected frontrunners, MGM Resorts and Las Vegas Sands, are also looking towards opening in either Osaka or Yokohama.

Osaka wants to have a casino resort open in time for its hosting of the 2025 World Expo.  The mayor of Yokohama, although a little late to come forward, has told residents that the opportunity is too big for the city to miss.

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