Hard Rock seeks partner to develop IR in Japan

The company’s CEO for the Asia-Pacific region said a construction or real estate partner would help to win an IR licence in Japan.

Japan.- As the casino industry is almost ready to land in Japan, international companies continue to move towards a potential integrated resort (IR) licence. That’s exactly the case of Hard Rock International, that, according to its CEO for the Asia-Pacific region, Ed Tracy, is looking to get a construction or real estate partner to win a permit in Tomakomai, Hokkaido.

“We expect that even though it’s not outlined in the legislation that you have to have local partners, it just makes good sense,” Mr Tracy said in an interview with Bloomberg Television and added: “Significantly in Japan real estate costs are pretty high on a global scale, so a real estate partner would be great, and obviously a construction partner. That’s kind of the starting point.”

The Hard Rock executive also explained that the company, which “has significant content and technology partners that are Japanese based,” is focused on developing its IR in Hokkaido: “Our evaluation shows us that Tomakomai city is exactly the right place… We’ve been forming partnerships there and we’ve been working very hard with a tourism company,” he said.