Las Vegas Sands Brings in David Beckham to Promise $10 Billion Spend in Japan
Posted on: October 5, 2017, 04:00h.
Last updated on: October 5, 2017, 11:09h.
Las Vegas Sands (LVS) is reaffirming its earlier commitment to spend upwards of $10 billion, should they receive one of the two integrated casino resort licenses in Japan.
At a conference in Tokyo this week, LVS President Robert Goldstein explained that the potential venue would be much more than a casino and hotel, but also an entertainment complex that would attract a wide array of visitors.
Las Vegas Sands is seen as a frontrunner for receiving a coveted license, one of which is expected to be earmarked for Tokyo. The company’s strong performance in the integrated resort business, specifically in Macau and Singapore, has Japanese officials keen on LVS.
Japan’s National Diet, its legislative body, is currently working on the details for regulation and oversight of commercial gambling venues. Casino companies around the globe are anxiously awaiting, and analysts believe the law’s specific policies will ultimately decide how much investment is warranted.
The Diet is thought to be basing its legislation off Singapore’s gaming act. If that’s true, the Japan casinos might be limited in size to just 15,000 square meters (161,458 square feet).
In addition to LVS, MGM Resorts and Melco Resorts also have hyped their willingness to invest $10 billion in capital expenditures to woo Japanese lawmakers for awarding a license.
Bringing in Beckham
The Sands conference pulled out all the stops in trying to win favor with Japan’s public and government officials. Retired international footballer David Beckham was on hand to garner excitement, and of course, additional press coverage. The soccer great is one of the most followed people on social media, and one of the most famous athletes in the world.
In 2013, LVS partnered with Beckham to promote resorts in China and Singapore. COO Michael Leven said at the time that the sponsorship deal was to help market, grow, and sustain the corporation’s global multibillion-dollar investments.
Sands hasn’t carted out Beckham solely overseas. When LVS founder Sheldon Adelson was involved in convincing local officials in Nevada to build an NFL stadium for the Oakland Raiders to relocate to Las Vegas, Beckham appeared alongside the billionaire to lend his support.
While his COO and star ambassador were in Japan, Adelson met with US President Donald Trump on Monday in Washington, DC.
One of the Republican Party’s largest donors during the 2016 presidential election, Adelson went to discuss policy, specifically the president’s campaign pledge to relocate the US Embassy from Tel Aviv to Jerusalem. But following the Las Vegas shooting late Sunday night, the conversation was diverted to conversing how the two billionaires might help victims, according to Adelson spokesman Andy Abboud.
This morning, Las Vegas Sands and the Adelson Family Foundation announced a $4 million relief fund for victims of the Las Vegas shooting, as well money to honor first responders and medical professionals.
The donation is just the latest from the casino industry. MGM Resorts has pledged $3 million. Zappos, UFC, and Station Casinos have all pledged $1 million.