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Irrespective of the excitements in the air centering the proposed integrated resorts (IR) in Japan, veterans evaluate that the opening of the same might take a while. As per the panellists at the ASEAN Gaming Summit, major venues in the country could take at least until 2026 before they finally open, as they still have many hindrances to face prior to the approval of the Implementation Bill.
Jay Defibaugh, the Senior Research Analyst at CLSA Securities, said that the market has the potential to generate GGR of about €20.3 billion beyond 2030 if two urban IRs and 10 regional properties finally open. Meanwhile, Fred Gushin, Spectrum Gaming Group Managing Director raised the stakes and estimated a market worth €24.4 and €28.4 billion in 10 to 15 years.
Despite optimistic projections, the market still needs to get proper regulation, operators say.
Daniel Cheng, the Senior VIP casinos, Asia, at Hard Rock International said: “I agree that it will be a huge market if it is properly legislated. It’s very likely the rules and regulations might be tighter than Singapore.”
Whereas, the Senior Manager at the integrated resort’s team at PWC Consulting Masahiro Terada did not seem to be as optimistic as his peers and suggested that some may be overestimating the support the IRs will get from the local market: “The local market is not mature. In five to ten years, then the local market will expand,” he added.
The current legislative session will end on June 20th and the government expects to pass the IR Implementation Bill before that date. However, it has been delayed over and over with many complications to still be overcome.
Source: European Gaming Media and Events