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This could be a game-changer for Vegas

Talking Numbers

If Japan starts opening casinos, gambling magnate Sheldon Adelson wants in.

The CEO of Las Vegas Sands has made it known he would put down whatever would be necessary for a casino venture in Japan, even if it means spending $10 billion. In November, legislators in the Japanese Diet put forward a bill that would legalize casinos by 2016.

Japan isn't just the world's third-largest economy, it's also the world's third-largest gambling nation as measured by gross win. According to H2 Gambling Capital, Japan's 2012 gross win of $42.7 billion makes it one of the world's largest gambling nations, responsible for nearly one-tenth of the world's gross wins.

(Read: Sands CEO says to spend "whatever it takes" for Japan casino)

CNBC contributor Gina Sanchez, founder of Chantico Global, believes potential Las Vegas Sands hotels in Japan will be looking to get a piece of the conference center business. "They're looking at a potential estimated $40 billion of revenue that could come out of the Japan market," says Sanchez. "That's second-largest to $51 billion in Macau."

Adelson is also keeping an eye on the calendar for Tokyo's big event six years from now. "Las Vegas Sands is looking at setting these up in time for the 2020 Olympics," says Sanchez. "That could be quite a nice opening for them. So, if you're a conference-goer and you have to go to Tokyo anyway for a conference, if there is a casino there, you are likely to go to it. I do think that they're going to capture that market."

(Read: Stanley Ho's SJM makes fresh start with new Macau casino)

But, trying to play Las Vegas Sands' volatile stock may feel like more like a turn at the roulette wheel than a sure bet, according to CNBC contributor Andrew Busch, editor and publisher of The Busch Update.

"LVS stands for 'not for the faint of heart'," says Busch of Las Vegas Sands' stock. "It's had 27 price gaps over the last two years. So, just keep that in mind when you're looking at this stock."

To see Busch's charts on Las Vegas Sands and for more of Sanchez's fundamental take on the stock, watch the video above.