Gov't currently drafting legislation
Sega Sammy seeks majority stake in Japan IRs
The company expressed a strong interest in the Asian country after the recent legalization of the gaming industry.
2017-05-12
Reading time 39 seg
The company expressed a strong interest in the Asian country after the recent legalization of the gaming industry.
"We definitely want to take a bigger stake in Japan - not just the entertainment part, but the whole (casino) resort," President and Chief Operating Officer Haruki Satomi told reporters on the sidelines of a conference in Tokyo.
““Tokyo-based Sega Sammy holds a 45 percent stake in a resort in South Korea, which opened and provides entertainment content.
”
Paradise Co, the country's biggest casino operator, is the majority shareholder.
Foreign casinos operators are courting real estate, construction and transportation firms in Japan to form operating consortia, and have expressed flexibility as to the size of their equity involvement.
““Japan is now preparing legislation, due by December, to lay out rules on selecting hosts and operators for the casino resorts.
”
It is widely expected to grant licenses to three locations initially, with Osaka and Yokohama seen as front-runners.
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