The Japanese casino industry may be just one part of the grand concept that lawmakers envisioned when they passed a bill to legalize commercial gambling in 2018.
Japan's long process of providing casino resorts to Asian countries in combination with "COVID-19" has received little interest in Japan's prefectures and municipalities.This situation has spread to major casino operators who have considered Japan as their greatest opportunity since Macau in China allowed casinos 20 years ago.
Japan's 2018 Integrated Resort (IR) bill allows as many as three casino projects.However, with only three remaining cities interested and only one globally recognized casino company, the central government may choose to delay the issuance of concessions. Analysts are thinking.
IR開発の承認は、0件、1件、2件、または3件になる可能性があります。日本のカジノ自由化のアドバイザリーを行っているベイシティ・ベンチャーズの国領譲二氏は、「これは、各地方自治体の申請書の質と整合性にかかっています」と説明しています。Companies that are not currently bidding in Japan include Las Vegas Sands, Caesars Entertainment, Wynn Resorts, Hard Rock International and Galaxy Entertainment.
Are major cities out?
MGM Resorts is involved in the $ 91 billion IR pitch of Japanese financial conglomerate Orix and Osaka.Osaka is the third most populous city in Japan after Tokyo and Yokohama.
Both Genting Group and Melco Resorts continue to be interested in Yokohama.However, in the mayoral election held on the weekend, Mr. Takeharu Yamanaka was elected.Mayor Yamanaka has pledged to withdraw from the casino candidates where the Kanagawa Prefectural Government is located.
Other candidate sites are Nagasaki and Wakayama.The populations of these cities are ranked 36th and 53rd in Japan, respectively.Nagasaki has selected Casino Austria and Wakayama has selected Claire Best Group, a private equity company, as IR developers.
"Just applying to the country does not mean that everything will be approved," Kokuryo explains.
Of the 13 cities in Japan, cities with a population of 100 million or more have not considered IR except for one city, with the exception of Osaka.
"The IR competition seems to be narrowed down to three, but there could be a scenario where only one is chosen, and the remaining two licenses will be considered in different timelines and scenarios. "More," Brendan Bassman, director of government for Global Market Advisors, a casino consultancy based in Las Vegas, told GGR Asia.
Bid period
So far, the total number of IR casinos licensed by Japan is speculative.
The Central Government Casino Regulatory Commission will begin applying for IRs from prefectures and their municipalities in October.The application period is until April 10.
Japan's 2018 IR Bill provides a business proposal with evidence that such a complex attracts foreign tourists, is competitive with international IR, and has a positive impact on host provinces. Is required.
The Casino Regulatory Commission is made up of five members, a former prosecutor, a tax accountant, two former lawmakers, and a psychiatrist, who will delve deeper into the applicant's career.
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