The casino industry turns to Japan
Major global gaming companies have confirmed their interest in the recently approved casino industry in Japan.
Japan.- Several major companies from all around the world have reaffirmed their interest in developing their own venues in Japan after the Japanese House of Councillors approved the Integrated Resorts (IR) Implementation Bill and cleared the way for the casino industry to arrive in the country.
“Japan continues to be a core focus for us,” said Melco Resorts and Entertainment Ltd chairman and CEO Lawrence Ho and added: “We expect development of the next generation of integrated resorts to soon commence in this incredibly exciting, yet currently under-penetrated, tourism destination.”
Mr Ho also stated that the company devoted “a huge amount of resources” to Japan and forecasted: “We believe we are well placed in Japan with a strong local team actively working on the ground, engaging with the relevant stakeholders.”
Sheldon Adelson, chairman and chief executive of Las Vegas Sands Corp, said his company was “looking forward” to this “unique opportunity” and added: “We hope to be able to bring our track record, expertise, and development vision together with our industry-leading financial strength to deliver a large-scale MICE-based integrated resort that would be uniquely tailored to the Japanese market.”
The bidding process for IR licences could begin as soon as next year, meaning that the first casino permits would be issued around 2020 and venues would open sometime in 2025.
