Caesars drops out of Japan IR race

Caesars Entertainment Corp

Caesars Entertainment Corp has pulled out of the race for a Japanese casino license and will focus instead on its current plans and commitments, including a merger with Eldorado Resorts. 

The U.S. casino operator made the announcement in a press release on Wednesday night.

“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.”

Casino operators from around the world have been clambering over one another to position themselves to win one of three major resort licenses in the country. 

“As Caesars has pursued a license to operate in Japan over many years, we have been treated with respect and goodwill by 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,” said Jim Hunt, Caesars Chairman of the Board. 

“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,” added Tony Rodio, Caesars CEO.