MGM suggests wider market in Japan
MGM Resorts responded to seeming intentions to limit casino entry to tourists in Japan.
Japan.- The legal casino market in Japan may be limited to foreign players, as several legislators have suggested in the last few weeks. In response, MGM Resorts International stated that the company would consider withdrawing their investment proposal if the Congress approved that conditioning law.
Yoshinobu Nisaka, Governor of Wakayama city, revealed during last week’s Japan Gaming Congress that his administration would support a casino project in the region but residents would be banned from the venue following Vietnam’s regulations. According to Asian Gaming Brief, Senior Vice President of Global Gaming Development for MGM Resorts International Ed Bowers highlighted the importance of residents’ participation in the development of the industry.
“If you want an IR model in your country, you need it close to large population areas and allow for local entry,” stated yesterday MGM Resorts’ representative at a panel at the G2E Asia Conference. The Asian gaming industry is gathered at the international event in the Venetian Macau until tomorrow. Major industry’s developers are discussing relevant local issues such as the upcoming Japanese market.
Bowers said that if Japanese casinos would be limited to tourists, the investment would not be profitable as it is “not possible to invest less than $1 billion in an IR.” If residents would be banned from casinos, the company would not achieve the expected revenues from its high dollar investment.
