Japan is currently in the process of drafting casino laws, and Hard Rock has expressed its interest in getting a license.
Japan.- Despite the fact that Japan will wait to launch its industry until 2023, and that lawmakers estimate that initially there will be only three licenses issued in the Asian country, which will be announced in two years, Hard Rock Cafe International Incorporated announced that they established a Japanese subsidiary.
The Japanese arm of the company will be led by Edward Tracy, former Sands China Limited employee. The company believes that a subsidiary is a strategic move specifically designed to boost and support Hard Rock’s activity and growth plans in the region. Hard Rock chief executive officer Hamish Dodds said back in November, before Japan passed the legislation to allow casinos, that they were looking for partners to jointly bid for the license, and that they can either play a lead role or a partnership role. “We really hope that we can collaborate with Japanese partners and institutions,” he had said.
“As the former Chief Executive Officer of Sands China Limited and Chief Executive Officer of the Trump Organization, Tracy brings more than 30 years of proven gaming, hospitality and integrated resort experience to Hard Rock. We are confident in Tracy’s ability to lead the company’s efforts in Japan and we look forward to seeing our business continue to grow under his leadership,” said Chairman for Hard Rock Cafes International Incorporated Jim Allen in a statement. “With the recent passing of Japan’s bill, the company fully intends to apply this expertise and recognition as a major contender among the bidders for resort licenses. Tracy’s appointment and the launch of Hard Rock Japan further solidify Hard Rock Cafe International Incorporated’s rapid expansion efforts and commitment to growth in Asia,” Hard Rock said.
Genting, Las Vegas Sands and MGM are among the companies that already expressed their desire to land a license in the country to operate their services. Specialists said that it is estimated that the Gross Gaming Revenue would exceed US$10 billion from the get-go countrywide. LDP lawmaker Ryosuke Kozuki said that hosting casinos will play an important role in helping realise the Prime Minister growth strategy of drawing 40 million tourists annually by 2020. They also want to create facilities that combine shopping malls, entertainment facilities and large conference halls.