February 22, 2017 / 2:33 AM / 9 months ago

Melco Crown CEO says willing to outspend rivals on Japan casino

TOKYO (Reuters) - Melco Crown Entertainment MPEL.O is ready to outspend rival casino operators to build a Japanese casino, its chief said on Wednesday, a day after Las Vegas Sands Corp (LVS.N) put a price tag of up to $10 billion on a facility in Japan.

Lawrence Ho, co-Chairman and CEO of Melco Crown Entertainment and son of Macau tycoon Stanley Ho, attends a news conference on Studio City in Macau, China, August 5, 2015. REUTERS/Bobby Yip

“We’ll absolutely spend whatever we need to win,” Chairman and Chief Executive Officer Lawrence Ho told reporters at an investor conference in Tokyo.

Sands’ Chairman and Chief Executive Officer Sheldon Adelson said on Tuesday an “integrated resort” in Japan would cost between $6 and $10 billion to build.

MGM Resorts International (MGM.N), also vying for operating rights in Japan, said in October it is ready to bet up to $10 billion on a Japanese casino.

Reporting by Thomas Wilson; Editing by Richard Pullin

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