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Caesars pulls out of Japan IR race 

Ben Blaschke by Ben Blaschke
Thu 29 Aug 2019 at 05:22
Caesars
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Caesars Entertainment Corporation has announced that it will not pursue a license for an integrated resort in Japan, opting instead to focus on completion of its US$17.8 billion merger with Eldorado Resorts.

The US casino giant, which had shown interest in Osaka, Yokohama and Hokkaido, issued a statement overnight, with CEO Tony Rodio explaining, “The timing of our decision is driven by sensitivity to the significant decisions Japan’s government and business partners will likely be making later this year to advance the process.

“All of us at Caesars applaud the country’s thoughtful, inclusive approach to creating an integrated resort business model that supports Japan’s social, as well as economic aspirations.”

Caesars Chairman Jim Hunt added, “As Caesars has pursued a license to operate in Japan over many years, we have been treated with respect and goodwill by the Japanese government, business and community leaders, and with kindness by all the Japanese people we have encountered during this journey. We are grateful for the country’s receptivity to Caesars.”

The decision to withdraw from Japan comes two months after Eldorado CEO Tom Reeg hinted at the possibility during an investor call discussing its impending acquisition of Caesars.

“The opportunity internationally will have to be stupendous for us to run in that direction,” he said at the time.

It remains to be seen whether Caesars will continue with the development of its US$700 million IR in Incheon, Korea.

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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