Genting Singapore, a major Asian IR operator deeply interested in the Japanese market, has been the most tightlipped of all of the bidders about their plans for the country. This changed significantly on Monday, however, with the issuance of an 84-page “Circular to Shareholders” that outlined a number of key points about the company’s objectives.
“Hokkaido is still a very strong location for one of the Japanese Integrated Resorts based on the concept of good food, good sports, and good nature. Our position is unchanged.” So says Robert Verdier, president of The Taffrail Group, which leads the Clairvest Group’s IR campaign in Japan, in an exclusive interview with AGB Nippon.
On the issue of IR development in Japan, the Shinzo Abe government has, from start to finish, acted like a political bulldozer, assuming that the opposition parties and the majority opinion of the Japanese people could simply be swept aside by overwhelming force. This approach has indeed taken them a long way forward, but the costs are now mounting and the limits may be in sight.
The decision by Hokkaido Governor Naomichi Suzuki to drop out of the Japan IR race does not simply remove one more local government from contention, it also represents the collapse of what was arguably the strongest IR initiative outside of the Kansai and Kanto regions, the regional IR which probably would have produced the highest financial returns.
It seemed that all and sundry in gaming circles had considered it a foregone conclusion that Osaka will be a venue for one of the first three Integrated Resorts (IR) to be developed in Japan.
The Japanese government has made little secret that it sees the expansion of the MICE industry near the heart of its ambitions for the three IRs, but experts warn that it will take more than shiny new convention and exhibition centers to deliver success. Rather, it needs a social and educational transformation in Japan that has hardly begun.
From last November, when Osaka won its bid to host the 2025 World Expo, until August of this year, when Yokohama announced that it was entering the race, Osaka Yumeshima was looking like it would become host to the grandest and most successful IR in Japan.
The race to gain one of the three available IR licenses is advancing into the decisive stage, with Japanese local governments and international IR operators eagerly lining up for approval. However, the Japanese general public remains broadly on the sidelines, not waiting in anticipation, but rather sullenly watching developments they don’t approve of.
Having telegraphed its intention to do so since March, the Yokohama Chamber of Commerce & Industry has finally launched its pro-IR organization, dubbed the “Yokohama IR Promotion Association.”