Las Vegas Sands Stops Pursuit of Casino Development in Japan

Economy

Los Angeles, May 12 (Jiji Press)--Las Vegas Sands Corp. said Tuesday it will no longer pursue the development of a casino-featuring integrated resort, or IR, in Japan.

The U.S. company was seen as a leading candidate to win a bid to operate an IR in Yokohama, Kanagawa Prefecture, south of Tokyo.

Last year, Las Vegas Sands backed down from an opportunity to develop an IR in Osaka, western Japan.

"The framework around the development of an IR has made our goals there unreachable," Las Vegas Sands Chairman and Chief Executive Officer Sheldon Adelson said in a press release.

"It is time for our company to focus our energy on other opportunities," Adelson said.

[Copyright The Jiji Press, Ltd.]

Jiji Press