The casino control regulator will be in Japan in early 2020

Japan’s efforts to build the casino industry and launch the first integrated casino resorts are gaining momentum every day. On Friday, it became known that on January 7, 2020, the government of the country should create a casino management agency, which will include five people.
Under a ruling passed by Japanese lawmakers late last week, the new agency will be responsible for overseeing security issues, as well as investigating and verifying the identity of the operators who will be selected to operate the country’s first casino resorts and their staff.
As mentioned above, the new casino management committee will consist of five members. Each of these members will be appointed for a five-year term and only after approval by the Japanese government.
Note that the Japanese government legalized casino gambling in December 2016. Last summer, lawmakers passed the so-called IR Implementation Bill, which allowed up to three integrated resorts with dedicated gaming floors for American Las Vegas-style casinos in as-yet-to-be-specified locations across the country.
The Japanese government is now due to announce a full version of what has been dubbed the core policy for integrated casino resorts. A draft version of this policy was released last month. Its full version is expected to clarify a number of important issues, including the criteria of the central government for choosing locations to host the country’s first casinos. According to reports from GGRAsia, the Japanese government will release the full IR baseline policy in early 2020.
In the meantime, it became known that at the end of last week, the city of Yokohama requested concept development, trying to find resort concepts from companies interested in managing a complex resort in Japan’s second largest city. This city has announced that it will take part in the race for permission to build a casino resort in August 2019. Interested casino operators will now have to submit their integrated resort concepts for Yokohama by December 23rd.
The city’s recent announcement that it will be a bidder to host one of Japan’s first gambling resorts has sparked a wave of interest from some of the world’s largest gaming and hotel companies. For example, giant Las Vegas Sands said in August that it is no longer interested in realizing development opportunities in Osaka and will instead focus its efforts on obtaining permission to build its integrated casino resort in Yokohama or Tokyo. Melco Resorts & Entertainment, which previously also focused on obtaining a license in Osaka, is now considering expanding its Asian presence by building a luxury resort in Yokohama.
Yokohama, as well as all other cities and prefectures wishing to build one of the first three integrated resorts in Japan, will first have to team up with a private casino operator before applying to the Japanese central government for permission to build this type of property.

You might also like