17 October 2019

Melco Crown plans US$5 bln casino in Japan, paper says

Melco Crown Entertainment (MCE, 06883.HK), through its Asian gaming joint venture, is seeking support from several Japanese firms for its plan to build a US$5 billion casino complex in Japan in time for the 2020 Tokyo Olympics, The Australian reported Monday, citing Todd Nisbet, a senior executive at the company. MCE head James Packer will visit Tokyo this week as part of a business delegation accompanying Australian Prime Minister Tony Abbott on his North Asia visit, and will speak about the plans, the report said. MCE regards Japan the biggest single opportunity in its global expansion as the country has a potential gaming market value of US$40 billion a year, Nisbet was quoted as saying. The company is also in active talks with the Vietnamese and South Korean governments on casino resort development plans and it expects negotiations over its Sri Lanka project to be completed before the year’s end, the report said.

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