In addition to a potentially high tax rate, Japan’s IR bill might restrict casino floors to 15,000 square meters, or 161,458 square feet. There’s also rumors circulating that the gaming space cannot exceed three percent of the resort’s total square footage, meaning to reach the maximum casino area, a resort will need to be nearly 5.4 million square feet.<\/p>\n<\/div>\n
The integrated casino resorts will primarily target foreigners. The Diet is anticipated to force Japanese citizens to pay an entry fee, and limit the number of times residents can gamble.<\/p>\n
Japan is seen as the holy grail for casino companies, as the country is not only one of the most populated countries in the world, but also one of the richest.<\/p>\n
Nearly every major casino operator is looking to hedge a bet in the Land of the Rising Sun. But while earlier projections called for resorts that might cost up to $10 billion, companies are likely to rein in such lavish investment unless ideal gaming regulations are met.<\/p>\n
\nGlobal investment firm Morningstar opined late last year that rumored recommendations in Japan’s Diet surrounding the casinos will lead to “reduced capital expenditure and lower tourism (one of Japan’s main goals).”<\/p>\n<\/blockquote>\n
American Chamber of Commerce Japan’s\u00a0Seth Sulkin, who’s chairing a taskforce monitoring the IR bill developments, agrees. “Gaming companies are very rational: they’ll calculate how much revenue they can generate with a 15,000-square-meter casino floor, and they will only invest as appropriate for that, which certainly won’t be $10 billion.”\u00a0<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"A Japan casino tax will be higher than gaming rates found in other parts of Asia, including Macau. It would dwarf those paid by Las Vegas casinos, where the effective rate is only 7.75 percent, and it could backfire on the country’s goals of building casinos to begin with: to expand tourism. According to The […]<\/p>\n","protected":false},"author":42,"featured_media":70682,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,13,61,13592],"tags":[],"acf":[],"yoast_head":"\n
Japan Casino Tax Could Hit 50 Percent of Gross Gaming Revenue<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n