Hooray! Marina Bay Sands is now nearly, well, almost, er, a bit closer toward being fully open. The US$5.5bn integrated resort in Singapore had its big bash yesterday and appears to be doing better than it was after its soft opening on April 23. The mall is still largely a no-shopping zone, although more outlets are opening gradually; the hotel supposedly has all 2,400 rooms open (though clearly not all the lights were on the night before the party), and the convention and exhibition center appears to be functioning well (we are not aware of any other event organizers being sued for non-payment). Within the next year, all should be running smoothly, and LVS chief executive Sheldon Adelson has declared himself content with progress. So content, it would appear, that he spent more time talking to reporters yesterday about opportunities for his group in Japan and India than in Singapore. We were most intrigued by his admonition of Sands China CEO Steve Jacobs for “prognosticating” out of place, yet unsurprised when he started pontificating about what the Japanese ought to do with their gaming industry once they open it – to him, of course, the obvious choice to be “first mover” there, possibly by as early as 2014.

Analysis: This man will never learn how to do business the proper way in Asia, and his staff-management skills leave a lot to be desired, too. Yet it cannot be denied that he knows how to build integrated resorts. Marina Bay Sands and the Venetian Macao are models for any other country in Asia that wants to develop a gaming industry. On merit alone, Adelson would be the obvious first choice for a license in Japan. We have to wonder what Kazuo Okada and his Macau partner are up to at the moment, so we are not about to call Adelson the obvious winner in Japan just yet, especially as it hasn’t even been announced when casinos will be legalized. But if it really is possible that we could see casinos in Japan by 2014, that would be an interesting prospect to consider for current valuations of both LVS and Wynn. And consider this: if you were Steve Wynn, would you be as keen to rush into building your Cotai project, when you can’t even apply for gaming tables until March 2013, if you knew you could get an inside track on an opportunity in Japan? Similarly, losing Lot 7&8 in Cotai might not be the end of the world for Adelson if he can get a crack at the region’s only first-world country. Stay tuned.

Used with permission & copyright to IntelMacau