Nomura targets Yokohama and Osaka

Banking group Nomura praised Yokohama and Osaka as “prime” targets for building casino resorts in the country.

Japan.- The upcoming approval of integrated resorts will see the casino industry flourishing in Japan as many major operators from all over the globe have shown major interest in investing in the country. According to banking group Nomura, which will join with seven local companies to build a passenger ship terminal with shopping mall and hotel in Yokohama, praised the city, as well as Osaka, as ideal locations to develop IRs should legislation get passed.

Nomura analysts Daisuke Fukushima and Kentaro Maekawa, stated that “Nomura Real Estate Development building strong relationships with retail, warehousing, and port companies in Yokohama might be a foundation for participating in integrated resort projects in Yokohama in future,” and added: “We think that Yokohama is a prime candidate for the construction of integrated resorts, along with Osaka.”

In a Friday memo quoted by GGRAsia, Nomura stated that “the dissolution of the lower house and general election mean that debate on the legislation and the selection of regions for integrated resorts is now more likely to be delayed,” but pointed out that “equity market interest in integrated resorts will increase again at some stage.”

Fitch Rating’s All in: Global Gaming Handbook, which was published back in March, revealed that the local gaming industry is expected to make gross gaming revenue (GGR) of US$6 to US$9 billion, the number variating on whether the country opens two or three integrated resorts initially.