MGM and Las Vegas Sands could land Japanese IRs
According to gaming analysts, the US-based companies are the front-runners to get a licence in Yokohama and Osaka.
Japan.- The casino industry is soon to arrive in Japan as the government closes in on its casino liberalisation policy, but it’s still unknown where venues will be located. However, Yokohama and Osaka are very likely to host gaming venues and, according to industry experts, MGM Resorts and Las Vegas Sands are the front-runners to land an integrated resort there.
“We see Las Vegas Sands as most likely to win one of the two urban gaming licences, due to its strong resort experience in Singapore and Las Vegas, where we believe regulation is more stringent than in Macau and the Philippines, and where problem gambling and crime issues have been controlled,” Morningstar analyst Dan Wasiolek said and added: “Additionally, Las Vegas Sands has shown itself to be a valued partner in Macau where it has invested €11.33 billion since 1999.”
On MGM Resorts, the analyst explained: “MGM Resorts is well situated to receive a concession based on its leading position in Las Vegas, a market where gambling issues and crime have been well-controlled as well as its experience working with partner companies, while also displaying a strengthening balance sheet.”
Several international operators have already shown their interest in Japan and even discussed potential plans with local governments. A few weeks back Yokohama conducted a request for information (RFI) process, which had twelve companies submitting plans and information to the government. However, the local government will have to compete with several other areas to win the rights to develop its own venue.
