As for the three casinos<\/a>, Nomura says the Diet is likely going to reserve the properties for the cities of Osaka, Yokohama, and Nagasaki, and island of Hokkaido.<\/p>\nEach jurisdiction will only be permitted one IR. Casino operators will need to make individual bids, and the world’s major players are expected to do so including Las Vegas Sands and MGM Resorts, the two supposed frontrunners.<\/p>\n
Wynn Resorts, Melco Resorts, Galaxy Entertainment, Hard Rock, and Caesars are additionally readying to make formal proposals.<\/p>\n
Nomura predicts the original three licensees will hold seven to 10-year exclusivity on commercial gambling after being awarded permits. Renewals will be required every 10 years.<\/p>\n
Japan Panning Out<\/b><\/h2>\n
The National Diet is scheduled to adjourn its 196th regular session on June 20. The general consensus among observers is that there’s little to no chance the IR measure will be unveiled before that date.<\/p>\n
The Diet is expected to reconvene this fall and take back up the IR conversation.<\/p>\n
There’s plenty of opposition within the bicameral legislature, but Prime Minister Shinzo Abe’s Liberal Democratic Party and its Diet party partner Komeito posses the majority needed to pass the gaming legislation in both chambers.<\/strong><\/p>\nAbe wants to grow tourism in the business-rich country. Casino operators are jumping at the bit to invade the Land of the Rising Sun, a well-to-do empire home to 130 million people.<\/p>\n
Sands, MGM, Melco and others have floated lofty investment numbers should the Diet offer favorable market conditions. The 30 percent tax is nine percent lower than Macau where such companies currently operate multibillion-dollar resorts.<\/p>\n","protected":false},"excerpt":{"rendered":"
The long-awaited Japan casino bill being crafted by the country’s legislature shouldn’t be expected until the second half of 2018. Nomura Holdings, a Japanese financial research firm, opined this week that is the earliest the integrated resorts (IR) measure will presumably be made public. In the meantime, there’s been plenty of speculation as to […]<\/p>\n","protected":false},"author":42,"featured_media":74571,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,18,61,13592],"tags":[],"acf":[],"yoast_head":"\n
Analyst: Japan Casino Bill Expected in Second Half of 2018<\/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