Small Parker material enters the Japanese market, Melco Crown intends to invest heavily in development
2014-01-27 13: 02: 14
Editor in charge: Catherine
(Report from our newspaper) Shortly before Christmas 2013, Melco Crown, an Asian casino joint venture under the name of James Packer, pledged to spend 1000 million yuan to cooperate with Tokyo's University of the Arts (Tokyo's University of the Arts). the Arts) establish a joint venture partnership to develop "cultural projects".
A Melco Crown spokeswoman said: “Melco Crown really wants to make some contributions to the development of Japanese culture.” In order to make Tokyo more fully prepared for the 2020 Olympics, the Japanese Diet is expected to dismantle the casino. Ban.
Melco Crown’s move hinted at the potential of the Japanese market. Lawrence Ho, the company’s co-chairman, said last year: “(Japan) has huge potential. If Japan opens up (casino market), companies will be allowed to operate in Tokyo and Osaka. When integrated resorts are established, the potential value of this market will easily exceed US$100-150 billion."
He Youlong’s expectations are not baselessly overestimated. Analysts predict that given Japan’s wealth and developed tourism, the market has unlimited potential.
According to data from Citi, Macau casinos received a total of US$450 billion in revenue last year, the mature Singapore casino market is expected to receive US$70 billion in revenue this year, and the Las Vegas Casino is expected to receive US$65 billion in revenue this year.
Melco Crown has been lobbying Japan before. He Youlong said that if his company's development plan in Japan is approved, the company will invest US$50 billion in the Japanese market. However, competition in this market is also fierce. Las Vegas Sands has previously stated publicly that it intends to invest US$60 billion in Tokyo alone. Wynn Resorts also said that its investment in Japan will be much higher than US$40 billion.
However, Melco Crown does not only rely on the Japanese market to continue its strong growth momentum. China’s growing wealth is expected to double its gaming revenue in Macau, its casino city, by 2018.
The 34% stake of Melco Crown is owned by Little Parker’s Crown Casino. It currently has a total of US$26 billion in Macau projects underway, including the Studio City development.
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