Melco Crown Entertainment Ltd. has upped the ante against its casino rivals to win the chance to build a casino resort in Japan, declaring there's no limit on how much the company is prepared to invest.
"This opportunity is priceless and we'll spend whatever it takes to win," CEO Lawrence Ho said in a briefing held Wednesday at a CLSA Ltd. conference in Tokyo. The billionaire said the investment amount will depend on the host city, and his top choice for a casino resort is in the city of Osaka, where Melco has done more planning.
Ho's comments followed those of fellow casino tycoon Sheldon Adelson, who declared Japan the ultimate business opportunity for his Las Vegas Sands Corp., and where he could spend as much as $10 billion (about ¥1.13 trillion) building an integrated resort.