Friday, September 24, 2021

Tag: Japan

Melco open Osaka HQ in significant step toward Japanese IR

Osaka Japan
Melco Resorts & Entertainment has opened an office in Osaka in a bid to capitalise on the fledgling Japanese gambling market. The new facility, first mooted in October, is located close to the proposed Osaka Harbour site of the $7.35bn man-made island Yumashima, hailed as the potential home for the city’s gambling industry by 2024. “We will make the necessary investments,”...

LDP and Komeito reach consensus on key IR policy issues.

LDP
In his 1979 release, Discovering Japan, Graham Parker sang that “after all the urges some kind of truth emerges”, which would seem to be the case for Japanese casino legislation as coalition partners, the LDP and Komeito reached a consensus on a number of key points, paving the way for a vote on the IR Implementation Bill by May. Following...

Fitch: Japan a threat to Korea and Russia, but not Macau

fitch
  Financial analyst firm Fitch Ratings has predicted Japan’s future casino industry, which could be worth up to $9bn a year, is unlikely to have a detrimental effect on the Macau market.   However, the much anticipated establishment of up to five integrated resorts in Hokkaido, Osaka, Wakayama, and Nagasaki will reportedly cause problems for Japan’s more immediate neigh- bours. “Japan’s integrated resorts...

MGS explores challenges and opportunities presented by Japan

MGS Japan
MGS Summit has confirmed several Japanese speakers, including Mike Tanji from Gaming Capital, as well as Awata Akira and Kazuaki Sasaki, to share their professional views about opportunities and challenges on the opening of the gaming market in Japan, as well as to discuss the current situation and future development of Japanese Integrated Resorts.   As announced last week, Gaming Capital’s...

Melco building up in Japan

melco
  Despite the non-existent casino industry, the Asian casino operator, Melco Resorts and Entertainment, has been making movements to build their influence in Japan.   Appointing Ako Shiraogawa as the president of their Japan branch, the company has also opened up two new offices, one in Tokyo and one in Osaka. With this increased effort in integrating into Japan’s business and tourism sectors,...

Is Japan on track for a Floating World of integrated resorts?

melco
While on paper, the opening of a market in Japan might seem an inevitability, the process still appears beset by ambiguities suggests Edward Lowton.   Levon Helm captured it best when he sang on the Band’s 1993 song, Move to Japan, “they’re taking all hands in the land of the Risin’ Sun.” But with the next emerging integrated resort market on...

Resorts World back on track as Imperial Pacific set for July opening

ICR - Media Watch Japan Imperial Pacific
The finish line is in sight for Saipan’s Imperial Pacific, Resorts World Manila is allowed to reopen with beefed-up security, while Japan’s famous longevity apparently extends to its gambling industry as the authorities close what appears to be one of the country’s oldest illegal venues.   Saipan casino operator Imperial Pacific International Holdings (IPI) will open its permanent gaming venue this...

Japanese arcade tycoon sues estranged family after boardroom upset

ICR - family sue
Japanese slot machine tycoon Kazuo Okada is suing his wife, son and daughter after he was ousted from the board of his family-run business empire.   Okada, 74, owns 46.4 percent of shares in Okada Holdings, the corporate parent of Universal Entertainment, which manufactures pachinko, slots and casino equipment. He said: “Unless I sue there will be no opportunity to talk. The...

Japan to use casino revenue to fund anti-addiction efforts

Japan casino bill addiction
Newly legalised casinos in Japan may be required to divert funds to anti-addiction efforts, as the government hammers out a regulatory framework for the gambling houses.   A law lifting the prohibition on casinos in Japan last December will allow global operators to build resorts for the first time, although not before lawmakers have put together and passed an anti-addiction bill. The...

The Waiting Years: Japanese gaming legislation gradually takes shape

ICR - Japanese gaming bill
Sources in the Japanese government suggest that it’s likely to be August at the earliest before a steering body publishes the outline of the Integrated Resorts (IR) Implementation Bill.   Government sources have suggested that it is likely to be August at the earliest before a steering body made up of Japanese cabinet ministers makes public the outline of the Integrated...

Caesars has “full confidence” in Japan IR expansion

ICR - Caesars Japan IR extension
In the run-up to the second edition of the Japan Gaming Congress at Tokyo’s Grand Hyatt this May, and with an expected six months before the first licences are issued, Mark Frissora, CEO of Caesars Entertainment, explains why the company is ideally placed to develop an IR in the region.   “This launch of integrated resorts in Japan offers a highly...

Pilling explores why grey matters in Asia

ICR - iGaming Lorien Pilling Grey Matters
Gaming in Asia’s largely unregulated markets can be volatile, but for Isle of Man-based gaming consultant, Lorien Pilling, the rewards of operating in this vast and voracious region can be more than compensatory.   The Asian continent is still many shades of grey for international gaming providers, yet revenue from the region is fast becoming a vital component on many a...

Ukiyo-e, Macau and the Asian casino industry

ICR - Macau Asia Industry Ukiyo-E
As Macau revenues begin to pick up again, what will be the impact of the Japan market opening on the territory and the wider Southeast Asian casino industry?   There is a hidden meaning in Utagawa Hiroshige’s well-known Ukiyo-e piece, Asakusa Ricefields and Torinomachi Festival, from his series One Hundred Famous Views of Edo. In a salacious detail, the tenugui or Japanese...

Japanese government begins work on second casino bill

ICR - Japan Casino legislation
The global gaming business is abuzz about Japan’s upcoming casino legalisation, no small wonder considering that experts predict Japan could be the third biggest market globally, trailing behind the US and Macau.   Lawmakers passed a bill last December to legalise casinos, with the first sites predicted to open as soon as 2023. This April, the Japanese government has begun work...

Japan Gaming Congress approaches capacity as delegates head to Tokyo

Japan , Tokyo
The Japan Gaming Congress (JgC) which is being held across 10-11 May at the Grand Hyatt Hotel in Tokyo, is close to capacity with over 420 delegates now registered for the event. JgC will feature thought leaders including, Mark Frissora, CEO, Caesars Entertainment; John Raczka, Former Vice President Entertainment Development & Operations, Melco Crown Entertainment; Masayo Watanabe, Senior Manager Sub-Leader for the Integrated Resort Support Office, Ernst & Young Japan; Masahiro...

Japan could provide the model for emerging gaming markets – argues BMM Testlabs’ John Rochester

ICR - John Rochester BMM Testlabs JgC Japan Gaming Congress
With the gaming industry tuned into the prospects of addressing Japan’s predicted $40bn gaming and hospitality sector, the forthcoming Japan Gaming Congress (May 10th – 11th, Grand Hyatt, Tokyo) has taken on huge significance. John Rochester, SVP Business Development Australia Asia Pacific, BMM Testlabs, looks ahead to the prestigious two-day educational forum, highlights how events such as the JgC...

Japan will bring creativity and innovation to world gaming

ICR - Raymond Chan Japan Gaming Congress
Raymond Chan, Co-Founder and CEO of gaming technology company, TGG Interactive, believes the development of gaming in Japan and the consequent creation of a lucrative $40bn gaming and hospitality market, will add both innovation and creativity to the world gaming industry.   Sharing his analysis ahead of his appearance at the Japan Gaming Congress (10 – 11 May, Grand Hyatt, Tokyo),...

Pachinko industry in a pinch in face of new legislation

Casino Review - Pachinko Japan
Japan’s pachinko industry covers its balls in the face of impending regulation   Over in Japan, the government is looking to restrict existing gambling establishments - including the $200bn pachinko industry - as it prepares to welcome casinos in its jurisdiction. Bloomberg reported that the move was part of the government’s plan to tackle gambling addiction even before country adds Las Vegas-style...

Battle Royale: Execs in the ring over one of two IR licences

Casino Review - Japan Casino market IR licence battle royale
The race to secure one of only two IR licences to operate in the long-coveted Japanese casino market is heating up. With Sands, MGM Melco and Genting all professing to do whatever it takes, there will be some sore losers.   The largest casino operators on the planet are piling in with their claims on Japan’s fertile casino market - with...

Japan’s senate approves landmark casino bill

Casino Review Japan Casino Bill
Analysts predict first casinos in Japan by 2020 following December's bill to allow gambling in casinos within the country concluding 17 years of process.   Japan’s Upper House passed the landmark bill to legalise gambling in casinos on the last day of the Diet’s congressional session on 14 December, marking the end of a 17 year process for liberalization. Gambling stocks at...

Japan’s regions already preparing their bids to develop one of two resorts

Casino Review Japan
Pre-empting what many are seeing is a done deal, Japan’s regions are already preparing their bids to develop one of two resorts.   So Japan may be joining the international gaming zone - and not before time many observers believe. But the process has a complicated path to navigate - not just in the political corridors, but outside in the local...

All good things to those who wait – Japan’s integrated resorts bill

Casino Review, National Diet, Japan, monozukuri, Dr. Toru Mihara, Center for Amusement Industry Studies, Osaka University of Commerce.
The National Diet’s lower house has approved the principles of Japan’s integrated resorts bill, although patience is advised for those eager to get stuck in. True to form, this rising sun of the global casino game is in no mind to hurry.   The Japanese are no strangers to waiting. Two “lost” decades since their property bubble burst in the early...

Hard Rock eyes up Japan licence

Casino Review, Hard Rock Cafe, Japan, Hamish Dodds,
Among the big foreign brands poised to invest heavily in Japan’s new casino market is the all American Hard Rock Cafe International. The cafe and casino chain is currently looking for partners to jointly bid for a highly coveted licences, when the time comes to present its case before one of two local governments selected for development. “We can either play...

One small step for man, one giant leap for Japan

Casino Review Japan Legislation
Following several false starts, Shinzo Abe’s casino bill has finally taken off. At last, Japan is within touching distance of legalising casinos following a House of Representatives vote backing the country’s giant leap forward.   Japan took a step towards legalising casinos at the start of December, fulfilling a long-held ambition of PM Shinzo Abe and moving closer towards opening a...

Ganapati PLC CEO to demystify Japanese gaming market at iGaming Education Forum

Casino Review Ganapati PLC
The CEO of Japanese gaming and entertainment company Ganapati PLC has been confirmed as a speaker on Japan’s gaming market at next week’s iGaming Education Forum.   Mr Mitsuya Fujimoto, CEO of Ganapati PLC - a group of international game studios, media platforms and production companies - will be bringing his expertise and passion for the Japanese gaming market to the...

Shinzo Abe pushes on with Japan casino bill

Casino Review Japan
An extraordinary session of the National Diet, Japan’s parliament, began on 26 September, that could include two months of deliberation on the legalisation of land-based casinos in the country.   The Promotional Integrated Resorts Bill was first submitted in 2013 with the backing of prime minister Shinzo Abe and his leading Liberal Democratic Party. However, opposition from the LDP’s more socially...

MGS offers unique insight into future of Japanese gaming legislation

Casino Review Japan
The temperature surrounding the long-running debate on legalising casinos in Japan seems to be rising, as high ranking politicians, analysts and leading corporations place their bets on the chances of a major shift towards new legislation. And with the latest indicators pointing to a more favourable outcome, November’s MGS Summit finds itself perfectly positioned as the prime place for...

One more time, for luck: Abe tries (again) for casinos in Japan

Casino Review Japan Resort Abe
Ahead of the next Olympic Games, the next few months will seemingly prove decisive for the fate of the LDP party’s integrated resort bill.   According to a report by the Financial Times, Japan’s ruling Liberal Democratic party (LDP) is to try and legalise casinos once again – as a parliamentary committee prepares to meet in Tokyo to finalise the agenda...

Media Watch: Japanese casinos on the cards

Japanese Japan's Casino
Media Watch Industry commentators suggest that Japan’s casino industry could finally get the go ahead after the ruling Liberal Democratic Party (LDP) gained a majority in this July’s upper house election. This will allow the LDP to push through legislation and could set the stage for an integrated resorts (IR) bill to receive a green light following years of close calls. “With...

Hopes fade for casinos in Japan by 2020

Aki Tsuruoka Resorts Bill
Japan’s ruling Liberal Democratic Party (LDP) has declared the country’s hotly-anticipated Integrated Resorts Bill will not be discussed during the current ordinary Diet session, which ends on June 1. Speaking exclusively to International Casino Review, Akiyoshi Tsuruoka of Gaming Capital Management News said any further delays to the discussion of the new legislation would make the prospect of integrated resorts...

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