Las Vegas Sands Pulls Out of Japan Resort Race
Las Vegas Sands (NYSE: LVS) will no longer try to build an integrated resort (IR) in Japan. The world-class casino operator doesn't believe the 10-year time frame for a concession is long enough to generate a sufficient return to warrant investing at least $10 billion in a resort.
Japan is trying to develop a legalized casino industry in a country where the majority of people are said to oppose it, but the legislative process to create it has dragged on for years and introduced roadblocks into the process.
Las Vegas Sands CEO Sheldon Adelson simply said, "the framework around the development of an IR has made our goals there unreachable."
Source Fool.com
