In an interview with Bloomberg, Lawrence Ho, Melco Resorts & Entertainment Chairman and CEO, has pitched the cost of building a metropolitan IR in Japan at being upwards of US$10bn.
Mr. Ho said: “To build the greatest and most amazing IR in the world in Japan needs to be situated in a city where the infrastructure and accessibility is there. That’s why we’ve declared that we are Yokohama First. Our main and only focus is on developing in Yokohama. Our view is that a resort in Yokohama will cost at least US$10bn and will have some of the latest technological advancements in terms of smart cities and technologies.”
“Our focus is always going to be on organic growth,” he said. “Over the last few years we’ve given significant capital back to the shareholders via dividends, share buybacks, but at the same time Melco will always be a growth company and the biggest growth company in my lifetime will be Japan. We will continue to look at how best to deploy the capital but again our first priority will always be to focus on organic growth.”