By DAVID BONNET
Fireworks explode over Parisian Macao as part of the Las Vegas Sands development during its opening ceremony in Macau, China. September 13, 2016. PHOTO/Reuters Bobby Yip
Tokyo now debating the legislation that gaming companies need as they consider investing billions of dollars in Japan resorts
The Japan Gaming Congress held earlier this month was the first major conference to bring together all the potential players since a bill was passed in December toward licensing casinos in the country.
The attendees included regional and national government representatives, casino gaming operators and suppliers; and potential lenders and investors.
By most accounts, by the time the conference ended on May 11 at the Grand Hyatt in Tokyo, the excitement was palpable at the prospects of developing casinos and related entertainment facilities in Japan.
This is perhaps unsurprising as investment bank CLSA estimates gaming revenue in Japan could surpass US$25 billion a year. Some estimates put it much higher.
Regardless of the revenue numbers used, Japan is seen as the coveted prize in the gaming industry and will be on par with Singapore and Macau, the two best markets financially today.
However, the elephant in the room at the Tokyo congress was the lack of detail to define any potential gaming investment in Japan.
AsiaTimes for more