• 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

Melco nods US$248mln fund for Japan non-gaming projects

Oct 30, 2019 Newsdesk Japan, Latest News, Top of the deck  


Melco nods US$248mln fund for Japan non-gaming projects

Asian casino operator and developer Melco Resorts and Entertainment Ltd said on Tuesday it was launching a JPY27-billion (US$248.0 million) fund to invest in non-gaming tourism and hospitality projects in Japan.

Melco Resorts is one of several international operators vying for one of Japan’s initial casino resort licences: a maximum of three resorts will be permitted in a first phase of liberalisation. In mid-September, the firm said it would adopt a “Yokohama First” policy in its pursuit of a Japan casino licence. It added at the time it was ending its interest in Osaka as a site for a resort project.

Price tags of US$10-billion per resort have been mentioned by several suitors for a Japan casino licence. In September, Fitch Ratings Inc, a credit rating agency, said in a report on the outlook for Japan’s newly-liberalising casino market that each project could cost as much as US$15 billion to develop.

Melco Resorts said the newly-created Melco Creative Exchange fund was a scheme separate from its aspirations to become a casino operator in Japan. The firm already unveiled on Tuesday the fund’s first two investments: an “onsen” or hot spring resort in Hakone, near Tokyo, and a ski resort in Nagano. Both projects are expected to open around the year 2025, according to media reports.

Also on Tuesday, Melco Resorts announced that Japanese tennis star Naomi Osaka would serve as the firm’s brand ambassador and sports group director for the company’s projects in Japan.

“Melco Creative Exchange is focused on bringing people to the… countryside” of Japan, Melco Resorts’ chairman and chief executive Lawrence Ho Yau Lung (pictured in a file photo) said on the sidelines of a business forum on Tuesday. “People really want that, rather than just going to another U.S. or European city,” he added, quoted by media outlet Nikkei Asian Review.

In his comments, Mr Ho reiterated Yokohama was Melco Resorts’ priority for a casino resort in Japan. “The benefit of Yokohama is its proximity to Tokyo, but it’s very much a day-trip market. We are looking to build the world’s biggest integrated resort to make Yokohama a primary city for people to go and stay for two or three days.”

Those Japanese local governments qualified to apply to the national government for permission to host an integrated resort – namely prefectures and ordinance-level cities – need to team with private-sector partners prior making their bid to the national government. But they can only do so after Japan’s central government announces the details of the integrated resort basic policy.

Yokohama city is one of eight places in Japan that are definitely considering seeking national government permission to host casino resorts, according to comments in September by Kazuyoshi Akaba, Japan’s Minister of Land, Infrastructure, Transport and Tourism. The others were: Hokkaido prefecture, Chiba, Tokyo, Wakayama, Nagoya, Osaka city and prefecture, and Nagasaki prefecture.


  • tweet
Related articles
  • CoD Mediterranean construction facing delays: Lawrence Ho
    CoD Mediterranean construction facing...

    May 06, 2022  

  • Melco Resorts 1Q EBITDA of US$56mln, narrows loss
    Melco Resorts 1Q EBITDA of US$56mln,...

    May 06, 2022  

More news
  • Minority parties table Thai law amendment for casinos
    Minority parties table Thai law...

    May 20, 2022  

  • Melco to launch new family attraction at Studio City in June
    Melco to launch new family attraction...

    May 19, 2022  


Latest News

Minority parties table Thai law amendment for casinos

Minority parties table Thai law amendment for casinos

May 20, 2022  

A number of minority political parties in Thailand has submitted a draft amendment to the country’s Gambling Act, with the aim of legalising land-based casinos and online gambling, reported on...
Read More
Melco to launch new family attraction at Studio City in June

Melco to launch new family attraction at Studio City in

May 19, 2022  

Andrew Lo takes controlling stake in Suncity, Summit Ascent

Andrew Lo takes controlling stake in Suncity, Summit Ascent

May 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us