• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Japan casino law passed likely 2H2018 earliest: Nomura

Apr 04, 2018 Newsdesk Japan, Latest News, Top of the deck  


Japan casino law passed likely 2H2018 earliest: Nomura

It is likely to be the second half of this year or the first half of 2019 before Japan passes its Integrated Resorts (IR) Implementation Bill, says a Tuesday note from Japanese brokerage Nomura.

The institution also stated – citing “local sources” – that four main locations were being discussed for the initial phase of up to three casino resorts: the cities of Osaka, Yokohama and Nagasaki, and the northern island of Hokkaido.

Nomura also clarified that it understood there would be an “exclusivity period of seven years,” on the first licences.

“We expect the length of the concessions to be similar to the initial seven-year exclusivity period, or approximately seven to 10 years, with the option for additional 10-year renewals,” wrote Nomura analysts Harry Curtis, Daniel Adam and Brian Dobson.

Following a meeting of the coalition parties on Monday, news had emerged that the implementation law would be reviewed seven years after its passage, but there was no mention in those reports of any exclusivity period on those first licences.

Regarding the timetable for the IR Implementation Bill – the measure necessary to make further progress on casino liberalisation in Japan – the largest governing group, the Liberal Democratic Party, recently expressed hopes that the bill could be introduced to parliament in May and passed by the end of the current legislative session on June 20. The LDP and its junior coalition partner Komeito announced on Tuesday consensus on the final two of 11 policy areas for casino implementation.

But the Nomura assessment suggests that the measure might not be cleared until either the so-called extraordinary session of parliament – which typically runs from early autumn to late November or early December – or the ordinary session of 2019, which is likely to run from New Year that year until the early summer.

“While the latest consensus could pave the way for a possible passing of the Implementation Bill before the end of the current parliamentary session on June 20, we believe the more likely scenario is that the bill is passed in second half 2018, first half 2019,” wrote Nomura’s analysts.

The institution’s team said that although the proposed fixed tax rate of 30 percent on casino gross gaming revenue – one of the political compromises reached on Tuesday by the governing coalition – “compares favourably” with Macau’s 39 percent effective gaming tax, rate it was still above Singapore’s “12- to 22-percent effective rate”.

Nomura added in its commentary that U.S.-based Las Vegas Sands Corp and MGM Resorts International – which respectively have majority ownership of Macau operators, with the former also having a Singapore licence – “seem to be best positioned to win” a licence in Osaka. Nomura thought MGM Resorts was also “well positioned” for a permit in Yokohama; while in Nagasaki it suggested Malaysia’s Genting group “appears to have the edge”. On Hokkaido, Nomura suggested U.S.-based Hard Rock International “has an edge over other operators”. It mentioned by name in that context Macau operator Galaxy Entertainment Group Ltd; Macau and Philippines operator Melco Resorts and Entertainment Ltd; and U.S.-based Caesars Entertainment Corp.


  • tweet
Related articles
  • Japan govt delays IR decision due to local elections: report
    Japan govt delays IR decision due to...

    Mar 30, 2023  

  • Melco’s Studio City has foreigner-only bet zone: checks
    Melco’s Studio City has...

    Mar 27, 2023  

More news
  • LET Group narrows year loss, Manila site open end 2024
    LET Group narrows year loss, Manila...

    Mar 31, 2023  

  • Jeju Shinhwa op narrows loss, gets extension from Pagcor
    Jeju Shinhwa op narrows loss, gets...

    Mar 31, 2023  


Latest News

LET Group narrows year loss, Manila site open end 2024

LET Group narrows year loss, Manila site open end 2024

Mar 31, 2023  

Hong Kong-listed LET Group Holdings Ltd, an investor in a number of Asia-Pacific region casino projects, reported in Thursday filing an annual loss attributable to shareholders of just under...
Read More
Jeju Shinhwa op narrows loss, gets extension from Pagcor

Jeju Shinhwa op narrows loss, gets extension from Pagcor

Mar 31, 2023  

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Ponte 16 narrows 2022 EBITDA loss, revenue down 24pct

Mar 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”

Casino investor LET Group

On the development of a casino hotel in Manila, the Philippine capital



Most Popular

  • Sands China ups ties to China showbiz giant Star CMSands China ups ties to China showbiz giant Star CM March 29, 2023
  • Suntrust confirms casino hotel 2024 opening on trackSuntrust confirms casino hotel 2024 opening on track March 29, 2023
  • Japan govt delays IR decision due to local elections: reportJapan govt delays IR decision due to local elections: report March 30, 2023
  • GEN Singapore boss flags uneven recovery pace in 2023GEN Singapore boss flags uneven recovery pace in 2023 March 28, 2023
  • Macau got 16k mainland package tourists in Feb reopeningMacau got 16k mainland package tourists in Feb reopening March 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us