In three words I can sum up everything I've learned about life: it goes on.
Robert Frost
23rd October 2017  
 
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The Story

Tycoon James Packer has shelved plans for Crown to expand in Japan as it focuses on developing a flagship casino in Sydney.

 

But why?

The Australian billionaire said that he did not want management "distracted" by participating in any competitive bidding process to build an integrated resort in Japan. This is a far cry from the plan he outlined years ago when he said that he plans to tap into Japan’s love of gambling.

 

The move was not unexpected, though.

Exactly. This is just another plan executed in the name of Crown’s restructuring. The company earlier exited its holding in Melco Resorts in Macau and has shelved its plan to set up a Las Vegas casino. Packer also note that it is not realistic for Crown to score a gambling licence in Japan.

 

They couldn’t ignore the benefits of Japan’s casino market forever, right?

Packer said that putting up a Crown resort in Japan is off his table. “I am only one director and I haven't had the conversation with the board. I am not saying 'no forever', but what I am saying 'no' to is writing a A$500 million (S$532 million) or A$1 billion cheque to go into Japan next week,” he clarified.

 

Takeaway

With Japan being a promising venue for Asian gaming, many casino operators are eagerly waiting to set up their businesses there. However, they might have to wait longer as the Japanese government is yet to pass a law that will iron out the details under which Japan's casino industry would be run.

 
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