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2 Winning Bets Among Casino Operators

We see Las Vegas Sands and MGM Resorts as the firms most likely to be awarded Japanese gaming licenses in 2019.

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Dan Wasiolek: While Las Vegas and Macau are currently the world's two largest gaming destinations, we believe a rising sun will shine bright on Japan as it stands to become the third largest gaming region after the island nation authorized gambling last year.

We expect Japan to open four integrated resorts in 2024 that combined stand to generate $21 billion in annual sales with solid high-teens return on invested capital.

Dan Wasiolek does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.