Las Vegas Sands, MGM lead race for Japanese casino licenses - report
In regard to location, Morningstar expects that urban casino licenses will go to Osaka and Yokohama over Tokyo, while Nagasaki and Hokkaido are tapped to receive the regional licenses.
“We think Tokyo is less likely to receive a license because of an unclear government stance, the 2020 Summer Olympics, and site location challenges,” Morningstar pointed out.
““The investment firm believes that Sands will be awarded the permit for Yokohama, while MGM will be looking at Osaka.
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Yokohama has a strong economic base, primarily working in the biotech and semiconductor industries, while Osaka is a major port city.
When the National Diet passed its IR bill in December, Japan said the legislation was an effort to bolster urban areas where economic stimulus was needed.
"We expect operators to garner 33 percent ownership in the two urban integrated resorts, as Japanese corporates will likely form consortia to participate in the IR project, and the government will require local partnerships to ensure proper integration of native culture."
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