Japan Casino Bill off Table: Union Gaming
It is likely "off-the-table in 2015" to enable Japan's legislation on casino resorts, according to a note from Union Gaming Securities Asia Inc on Monday. The letter was released after Japanese media reported that the Japanese government had put its plan to hold an extraordinary session of the National Assembly on hold. It will reportedly be the first time in a decade that a bicameral parliament has avoided a second seat this year. These sessions typically begin in the fall.
"The legislative timeline now moves the first bill to 2016 and the second bill to 2017," Union Gaming analyst Grant Goberson said, referring to the early stages to legalize casinos and the second steps likely to address administrative details, including important issues of such development locations or locations. 슬롯
"As far as we're concerned, 2022 is the earliest possible time for a large IR [integrated resort] to be held in Japan," Ms. Govesen said.
But Union Gaming says the number of Chinese visitors to Japan continues to "surge" and "visitors so far in August have risen by an astonishing 117% to 3.3 million; It was followed by +83% in 2014," he added
Gosen described Japan and Korea as "passionate countries" for many Chinese travelers and suggested that their growing popularity may represent Macau's lost customers.
"The topic we've been pointing out is that Chinese customers, the high-priced mass market, are avoiding Macau and instead heading to their new destinations, Japan and South Korea. "Tourism data shows that the same mass market customers who may not come to Macau as often as in the past still spend a lot of money on entertainment and leisure activities in the form of overseas travel," Union Gaming said.
The agency suggested that six additional Macau game concessions are unlikely to participate in the Request for Proposal (RFP) process, which will open two new large foreign-only casinos in South Korea.
"I understand that Macau-based operators do not participate in this RFP process because they generally doubt that IR licenses can achieve adequate returns, given that they still exclude gambling by locals," Mr Govsen said.
South Korea's Ministry of Culture, Sports and Tourism announced its latest strategy in August to develop so-called integrated new resorts, including casinos that are only available to foreigners.
The RFP phase was held in late August and will continue until November 27, South Korea's Ministry of Culture, Sports and Tourism confirmed on its website.
The number of casinos in Asia is expected to rise from 30 to 230 over the next five years, but broker CLSA Ltd suggested in a report released in mid-September that the region could "comfortably absorb this capacity increase."
