Since 2013, Japan has been planning to open casinos on its soil. For six years, this project has been on the government’s radar with nothing happening. Finally, in 2014, parliament voted to allow casinos to open in Japan.
Thus, cities are eagerly awaiting the chance to see their names among the lucky winners. It must be said that according to experts, casinos in Japan could generate more revenue than all the casinos in Las Vegas or Singapore combined. Japan could quickly become the second largest gaming capital in the world after Macau. This shows the potential of casinos in Japan, which could allow the state to hit the jackpot.
Tourism Minister Kazuyoshi Akaba has his work cut out for him in selecting which cities will be able to host casinos.
Eight prefectures in the running to host casino hotels
Kazuyoshi Akaba stated that eight prefectures have expressed interest in having their own casinos. Tokyo, Yokohama, Hokkaido, Chiba, Nagoya, Osaka, Wakayama, and Nagasaki prefectures have shown serious interest in hosting casinos. The problem is that there are too many applicants for just three spots.
Thus, prefectures are putting together solid applications to maximize their chances of success for their projects. It’s worth it when you consider the economic benefits of casinos for cities, which amount to several billion dollars annually.
>>> Also read: » The roadmap for casinos in Japan is taking shape «
Colossal investments for astronomical income
American casino groups like Sands Vegas and Wynn Resorts are showing interest in opening casinos in Japan. They plan to take the same approach they used in their casinos in Las Vegas, Singapore, and Macau and apply it to Japan. To do this, they are willing to spend between $10 and $15 billion to build brand-new casinos. For example, MGM Resorts could begin construction of its first casino in Osaka in early 2021. The first players will be able to walk through the casino doors in 2025. But nothing has been decided yet, as MGM is competing with Galaxy Entertainment and Genting Group for a license in Osaka.
Even Dominique Desseigne’s group has its sights set on Japan and wants to be among the lucky ones who can open a casino there. The problem is that there are far too many interested groups for so few places.
The casino groups’ colossal investments are worth it when you consider the potential of casinos in Japan. The revenue generated by Japanese gambling establishments is enormous for casino groups that will have the precious blessing of the Japanese government.
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