Where Will The Next Global Gambling Mecca Be Found?


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Interesting question and answer from the Las Vegas sands earnings call this week…From the transcript, via Seeking Alpha:

Harry Curtis – Nomura Securities Co. Ltd., Research Division

A quick question, Sheldon, on your growth opportunities. Can you just give sense of the status of your growth opportunities in Asia. And if new development opportunities take longer to gestate, what would you like to see done with the free cash flow?

Sheldon Gary Adelson

What would I like to see done? First of all, there are development opportunities, but some of which we are enthused about, some of which — I mean, that are not open yet, and some of which, a couple within the states, we’re not that enthused about. There are some obstacles to the one in Massachusetts and in Florida. But in Asia, which would be our first choice, it appears as though Korea and Japan are making louder and more current and more urgent moves in the direction of legalizing casino gaming in integrated resorts. Since we’re the leader in integrated resorts everybody feels that — in the world — everybody — but we created the concept of integrated resorts. Everybody knows that we are the most probable winner of any competition out there. But it all depends where and when. We think that Korea and Japan — and if one of those legalizes, the other one is going to in a heartbeat. There’s a competition between the countries, who’s going to get out there first. And both of them are concerned that the other one may get it done ahead of them, so they’re accelerating their efforts.

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