TOKYO — Sheldon G. Adelson, the chief executive of the Las Vegas Sands Corporation, said on Monday that his company was willing to spend “whatever it takes” to set up a casino project in Japan, one of the largest untapped gambling markets in the world.

Las Vegas Sands is considered a strong candidate to win a license in Japan should the country open its market to casino gambling, in large part because of the success of its resort in Singapore, which has served as a model for Japanese lawmakers.

But with every major global operator targeting Japan, competition is sure to be fierce. Sands’s American rival MGM Resorts International, along with Genting of Malaysia and Melco Crown Entertainment, the Macau casino operator, are among those also pushing hard for a crack at the market.

“Would I put in $10 billion? Yes,” Mr. Adelson said at a news media briefing during an investor seminar in Tokyo. “Would I rather do it at 7? Yes.”

Just two months ago, Mr. Adelson dropped plans to build a $30 billion gambling and leisure resort called EuroVegas outside Madrid after failing to win concessions from the Spanish government.

The brokerage firm CLSA estimates that Japan could generate $40 billion in gambling revenue a year, assuming two large, integrated resorts are set up in Tokyo and Osaka, and 10 smaller sites open in places like the northern island of Hokkaido and Okinawa to the south.

That would make Japan the second-largest market in Asia for gambling after Macau, which CLSA said was set to have revenue of $51 billion this year.

The slot machine and game makers Sega Sammy and Konami, and the broadcaster Fuji Media are among the Japanese companies that have shown an interest in the casino business.

When asked if he would take on Japanese companies as equity partners, Mr. Adelson said he “wouldn’t be that happy,” but he did not rule out the prospect.

He emphasized his company’s industry-leading market capitalization of $66 billion and said Las Vegas Sands did not need to bring in others to share the burden of investment.

“These people can’t keep up,” he said. “But I’m not ruling it out. I’m keeping my mind open to see whether or not a fair and reasonable partnership deal can be worked out.”

A group of Japanese lawmakers submitted an initial promotional bill to Parliament in December to legalize gambling, with expectations that it will be debated around May. If that passes, the proposal will go into a second bill with concrete regulations, which proponents hope can be passed in 2016.

If this two-step legislation process goes smoothly, casino backers say, the first resort could be opened in time for the Tokyo Summer Olympics in 2020.