Fukuoka Mayor rejects IR proposal
A potential Fukuoka IR will not happen “at this time,” according to a recent statement from Mayor Soichiro Takashima.
Japan.- The casino industry will arrive somewhere in Japan anytime soon. However, it seems as there will be no Fukuoka integrated resort (IR) bid just yet.
According to Mayor Soichiro Takashima Fukuoka, he won’t push for an IR bid: “Not at this time,” he said.
His statement was a response to the Junior Chamber International Fukuoka, which proposed an IR bid.
Mayor Takashima said public concerns about gambling addiction is one of the reasons for his decision. Furthermore, advanced state of the IR race pushed Fukuoka out of it.
Osaka gains momentum
Experts believe that MGM Resorts International would begin works in Osaka by 2021.
According to Sanford C. Bernsetin, the company will complete it by 2025. The firm cites the company’s CFO, Corey Sanders, during a recent meeting in Las Vegas.
“Discussion spanned across MGM’s [MGM] 2020 plan, MGM’s Japan initiatives, current on-the-ground situation in Macau and Hong Kong, and the company’s capital allocation strategy,” analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu said in a note.
As GGRAsia quotes, analysts see the market similar to Singapore’s.
“The Japan market should be structurally similar to Singapore and MGM is expecting a return on investment of up to 20%.”
