With the Japanese Casino Regulatory Commission already in place, Japanese authorities “will definitely reapply for the other two” available to Japanese societies who want casinos and integrated resorts (IRs)
Joji Kokuryo, managing director of Bay City Ventures Ltd, a Japan-based industrial consulting firm, responded to GGRA’s question about what could happen on Japan’s casino liberalization route, saying that only Osaka remains the approved project at this time, which is currently scheduled to be completed in 2030.
Nagasaki Prefecture, the only other applicant so far, learned on Wednesday that its IR district development plan had not been approved by state authorities. The news was delivered in a statement by the country’s tourism agency, an agency under Japan’s Ministry of Land, Infrastructure and Transport.
At a news conference on Wednesday, the tourism agency said Nagasaki Prefecture would be able to submit a new plan for its next application window if it wanted to, according to information gathered by GGRA’s Japan correspondent.
But the agency did not say clearly about the timing of the new application window, noting that what proposals the agency could make could only be decided by orders from the state-government cabinet.
Japan’s current liberalization regime allows for up to three IRs within the country. The cost of entry capital and strong terms and conditions have been cited by industry commentators as possible barriers to investors. Many big casino brands, including Las Vegas Sands Inc., have pulled out of the race, citing terms and conditions. Other brands, namely Genting Singapore Inc. and Melco Resort Entertainment Inc., saw their preferred partner city of Yokohama drop out of the race during the first round of bidding.
In September, Osaka authorities said the initial cost of a 1.80 trillion yen (currently $7.64 billion) investment in MGM Osaka would increase by 190 billion yen. Nagasaki, a smaller city than Osaka, cited a 438.3 billion yen fundraising target for the initiative.
BY: 카지노사이트
