The Venetian Pyongyang? Don’t bet on it.
Multiple Internet news outlets have picked up on a false report that Las Vegas Sands Corp. Chairman Sheldon Adelson wants to build a casino in North Korea.
The casino company has long sought an integrated resort opportunity in South Korea.
“Bottom line, the company’s interest remains in South Korea,” Las Vegas Sands spokesman Ron Reese told New York Magazine in an email.
Las Vegas Sands is the largest gaming operator in Macau, where it draws 65 percent to 70 percent of its annual revenue. The company also operates the Marina Bay Sands in Singapore, one of the places visited by North Korean dictator Kim Jung-Un on his well-publicized evening sightseeing tour of the island-nation’s downtown tourism district prior to last month’s summit with President Donald Trump.
During the summit, Trump seemed to promote North Korea as a possible tourist destination, even offering Kim a cheesy video produced by the White House showing the country’s development potential.
Maybe that’s where the confusion started.
Adelson, 84, is a mega-donor to Republican Party candidates and causes and has a net worth estimated by Forbes of $40.7 billion.
Last month, Adelson spoke at an event organized by Birthright Israel, a nonprofit that organizes free trips to Israel for Jewish young people. Adelson, who has given more than $410 million to the group, said he served in the Korean War and hopes Trump can help “North and South Korea finish the war” and he would be able to capitalize on the business opportunities.
When asked why “finishing the war” was necessary, Reese told New York Magazine, “I’m sure a lot of American companies would feel even better about doing business in South Korea if the situation with the North was resolved.”
Currently, Las Vegas Sands is one of several Nevada-based gaming companies focused on winning the license for a potentially-lucrative integrated resort development in Japan, once the country’s lawmakers complete the much-debated legislative process governing legalized casino gaming.
