Experts dismiss Japanese successful market
Morgan Stanley experts think Japanese regulations could jeopardise casino profits.
Japan.- The approval of the IR Implementation Bill in Japan enabled casino operators to develop the local market, which is set to be one of the world’s most profitable gaming markets. However, experts at the American multinational investment bank and financial services company Morgan Stanley think that current regulations on the bill could jeopardise profits among future casino operators in Japan.
According to Morgan Stanley’s representatives, restrictions on casino floor space and high taxes, which are proposed in the current IR Implementation Bill are damaging to the market’s proficiency. “Two of the key regulations – casino being only three per cent of total ground floor area and a 30 per cent revenue tax – may mean lower returns than many expected,” they said.
The statement released yesterday by Morgan Stanley also added that experts “expect the first Japan casino to open by 2025 and the market size could peg at a range of US$11 billion and U$20 billion gaming revenue.”
Last Friday morning, the Japanese National Parliament has finally approved the IR Implementation Bill in Japan, allowing the legal market to develop casino project throughout the country. The bill enables the installation of touristic casino resorts in up to three locations.
