An analyst believes integrated casinos may be on their way in Japan; however, the prediction is that it will take eight years to happen. Japan’s DIET will need to accept a change to the current gaming laws, by approving the Integrated Resorts Implementation Bill. But, even if the bill is accepted, it will still take another eight years before the first casino resort is open to the public.
The prediction was made during the ASEAN gaming summit, held in Manila. They considered the future of casinos in Japan and what lawmakers may decide to do to maintain investors in Japan.
One of the reasons Japan has a decent GDP is Japanese private debt. Instead of getting the country into debt by selling pieces of the country to foreign investors, much of the growth and development has occurred through private investors. This may change and will do so if investors are not kept happy.
Panelists stated that Japan will probably need to accept the integrated casino resort concept and that the first resort will open in 2026. It is all depending on lawmakers changing the legislation and how fast it happens. There are still several things that need to be in place before any casino resort company can start building.
Liberal Democratic Party
The Liberal Democratic Party currently rules Japan. Komeito, the coalition partner has discussed the casino industry, including how many cities should have integrated resorts, and the fee for Japanese residents to enter these resorts.
The laws are not against integrated resorts per say; however, the government wants to limit how many times Japanese gamblers can enter the casino premises as a means to keep addiction low among their people. Several Asian countries look at the same premise before deciding to agree to integrated casinos and how many they will allow.
The Liberal Democratic Party believes six cities would be allowed to have integrated casinos; however, Komeito only feels three should have these resorts. Komeito also thinks a $75 admission fee is acceptable. It is on par with Singapore’s fee concept, but it is higher than the $18.84 charged for Singapore residents to get into the casinos.
Hard Rock International’s Senior VP, Daniel Cheng thinks the rules and regulations are probably going to be a lot stricter than Singapore. He does hope the lawmakers will be extremely clear on the licenses being offered in the coming weeks.