Japan: Government IR Basic Policy to be published in July

Bay City Ventures the Basic Policy will be published on July 26 but that the government’s IR implementation could be delayed until July of 2021.

Japan.- The Japan Government will publish its delayed Basic Policy on Integrated Resorts (IR) in July.

A report from Japan-based consultancy Bay City Ventures said that the Basic Policy will be published on July 26 but that the government’s IR implementation could be delayed until July of 2021.

Bay City Ventures Managing Director, Joji Kokuryo, said: “The submission period for IR implementation plans to the Central Government by local governments and their IR partners runs from 4 January 2021 to 30 July 2021. This clear deadline affects every single timeline.

“If there are to be changes, it is much more likely that the July 2021 deadline is moved than the 26 July 2020 date, as the latter would involve revising the IR Implementation Law.

“Regardless of when the RFP procedure begins, local governments currently have a rough estimate of two to three months after receiving operator proposals to select their IR partner and at the very least seven months to finalise with their partner an IR business plan.”

MGM recently declared it still intends to bid for an IR in Osaka if the city is granted one of the three licences up for grabs.