It’s been a long road, but Japan is finally set to hand out three casino licenses this year. This is the first step in the birth of a gaming industry that has been in the making for decades. This week, Japan’s casino management commission met for the first time to set up the rules and regulations that will govern the industry. Next step? Deciding which cities will get the go-ahead to build a casino resort.
Experts estimate that the initial investment will end up reaching about $10 billion once it’s all set and done, as Japan has specific rules regarding how the casino resort complexes must look and what they should offer.
The Market is Ready
Still, there are a number of proposals already in place from cities and companies ready to take on the challenge. Las Vegas Sands and MGM Resorts International are hoping for licenses, but there are also Asian operators in the fight for one of the licenses. Developers from Hong Kong, Tokyo and Macau have put in requests – and a new Malaysian group is hoping for a chance too after successfully running a similar venture in Singapore.
So far, it looks like the rule book to be set by Japan will be thick, complex, and very detailed – this is in part to appease those who oppose the introduction of gambling in Japan, citing concerns about addiction.
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