OFF INTO THE WILD WET YONDER How does this...
Las Vegas Sands Thinks It Has a Leg Up on Competition
Chairman and CEO of the Las Vegas Sands Corporation, Sheldon Adelson, is betting on his Sands group to lead Tokyo Bay to its Macau-esque future. Adelson believes his Japanese competition cannot match or take on the scale of risk that the Sands group is capable of.
After a spirited presentation in front of Hiroyuki Hosoda, a standout in the LDP (Liberal Democratic Party), Hosoda gave a word of advice to Adelson, stating that replicating what he did in Singapore will not work in Tokyo as the city has its own culture. Some believe this was a soft jab at Adelson to be more open when it comes to equity partners, something he has been known to refrain from.
In my (modest) opinion, Adelson would be wise to take this advice to heart. Culturally, Japan is not known to be a “go-it-alone” or “winner-take-all” society. These types of personalities are generally frowned upon, especially when in the form of, say, an overly aggressive foreign businessman. Adelson isn’t the first—and I doubt will be the last—to fail to win Japanese over with brashness.