Las Vegas Sands Corp. (NYSE: LVS) today announced it will not pursue the opportunity to develop an Integrated Resort in Osaka, Japan. Las Vegas Sands Chairman and CEO, Sheldon G. Adelson, said the company is focusing on development opportunities in the Japanese cities of Tokyo and Yokohama.
"For the past several years, we have engaged in a conversation with the Osaka government regarding the possibility of building a world-class Integrated Resort there. We thank the people and government there for their professionalism and wish them much success with Expo 2025 and the other initiatives they have planned," said Mr. Adelson.
"Consistent with our long-held strategy and our track record of success in achieving it, our company will drive organic growth by strongly reinvesting in our existing portfolio of properties in Macao, Singapore and Las Vegas, reward our shareholders through our dividend and share repurchase programs and target new development opportunities that allow us to maintain our industry-leading returns on invested capital and we think an investment in Tokyo or Yokohama gives us the best opportunity to do exactly that," he concluded.
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