Elaborating upon their concept of building a “European-style” IR within Japan, representatives of Groupe Barrière told AGB Nippon in an exclusive interview that an important element of their idea is that any development plans produced by the company would be “tailor-made” for the specific location under consideration.
According to Japanese media reports, the ruling party intends to pass the IR Implementation Bill thorough the Cabinet Committee on June 13 and through a plenary session of the House of Representatives on the following day, June 14.
This week’s 6.1 magnitude earthquake in Osaka is a timely reminder that IRs in Japan, more than in most other jurisdictions, need to be designed with issues of natural disaster-preparedness high on the agenda, including defenses against earthquakes, tsunamis, and even volcanoes.
The face-to-face debate on July 5 between the two candidates for Wakayama mayor underlined the fact that neither candidate is currently in open alignment with the prefectural government’s plan to build an IR at the Marina City site.
South Korea’s Jeju island, a popular tourism destination for Japanese, continues to attract investment into its casino sector, with travel agency Lotte Tour Development buying the Jeju Lotte casino for 15 billion won (US$13.4 billion).
While neither event is confirmed, the Osaka government plans to open a major urban IR and host the World Expo on adjoining plots of land on Yumeshima island in the middle of the next decade. Concerns remain whether the IR can be built before the 2025 Expo, or, perhaps worse, that both will need to be built at the same time.
The 2018 Indian Gaming Industry Report by Meister Economic Consulting finds that the two tribe-owned casino resorts in Connecticut—Foxwoods Resort Casino and Mohegan Gaming & Entertainment—generate a combined US$3.7 billion in economic activity through taxes, job-creation, and other aspects.