Two large-scale resorts could be worth us$ 10 billion in annual gaming revenues
Olympic Games could be catalyst for casinos in Japan
2013-09-18
Reading time 43 seg
(Japan).- Last week’s award of the 2020 Summer Olympic Games to Tokyo has been hailed by the gaming industry as a catalyst for legalised casinos in Japan. Games organizers’ need to raise revenue to pay for an estimated us$ 1.53 billion in Olympic venues before the world’s athletes descend on Tokyo, and the growth of the domestic casino scene may partly hold the answer.
Two large-scale resorts - one each in Tokyo and Osaka - could be worth us$ 10 billion in annual gaming revenues, said Union Gaming Group Principal Grant Govertsen. Those figures would surpass the Las Vegas Strip, which produced us$ 6.2 billion in revenues in 2012.
Casino operators could be taxed as much 10 % nationally on gross gaming revenues as well as having to pay local fees and licensing costs. “We think the government should consider integrated resort development, at least in Tokyo, as a means to help the related Olympics infrastructure come to fruition,” Govertsen told investors the day after the announcement.
Nevada’s largest casino operators flew to Japan to scout potential gaming locations soon after news of the Olympics broke.
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