James Packer Could Be Opening A $5 Billion Casino In Japan

James Packer. Photo: Bloomberg / File

Crown chairman James Packer could be opening a $5 billion casino in Japan, according to The Australian.

The report says his Melco Crown Asian gaming joint venture is in talks with several Japanese corporations, and that the facility could be open in time for the 2020 Olympics.

Todd Nisbet, the exec who is in charge of the bid, told The Aus there were also talks underway with the South Korean and Vietnamese governments about potential developments, and that negotiations over Packer’s Sri Lanka Casino could be finished by the end of 2014.

“Japan is the biggest single opportunity that we are looking at in terms of an international expansion and growth story, just because of the sophistication of the market, the appeal of the overall area,’’ Nisbet said.

Potential legislative changes in Japan could make it an incredibly lucrative market for gaming operators.

“Everybody has reached for another gear, whether it be the political bodies … or prospective international companies that are interested in coming into Japan,’’ Nisbet said in the report.

“There’s been this moment in time where the Olympics has crystallised thinking around what’s the best way to capitalise on Japan being on the world stage and really driving the next stage of growth that the Abe government is looking to do to reinvigorate the Japanese ­eco­nomy.”

There’s more here.

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