Japan likely to pass casino law in 2H2018

Brokerage Nomura said that the Asian country will likely pass its integrated resorts bill during the second half of 2018.

Japan.- Japanese brokerage Nomura has said that Japan will likely pass its Integrated Resorts Implementation Bill during the second half of this year or the first half of 2019. Earlier this week, members of the ruling coalition, the Liberal Democratic Party and Komeito party, agreed on establishing casino entry fees of JPY6,000 (US$57).

The note, dated Tuesday, cited that four main locations are currently being considered for the initial phase of three casino resorts: Nagasaki, Hokkaido, Osaka and Yokohama. Nomura analysts Harry Curtis, Daniel Adam and Brian Dobson said: “We expect the length of the concessions to be similar to the initial seven-year exclusivity period, or approximately seven to ten years, with the option for additional 10-year renewals.”

“While the latest consensus could pave the way for a possible passing of the Implementation Bill before the end of the current parliamentary session on June 20th, we believe the more likely scenario is that the bill is passed in second half 2018, first half 2019.”