MGM Resorts and Caesars concerned over government policies that could hamper the market
Casino operators demand clear rules for Japanese IRs
As the Japanese Government starts this week the first public hearing to determine how to regulate Integrated Resorts in the country, casino giants asked for a transparent legal framework.
2017-08-17
Reading time 50 seg
As the Japanese Government starts this week the first public hearing to determine how to regulate Integrated Resorts in the country, casino giants asked for a transparent legal framework.
“Our common goal is to see the introduction of world-class integrated resorts in Japan that drive economic, tourism and employment growth," said Steven Tight, president of international development at Caesars Entertainment in a special report published by Boomblerg.
For its part, MGM Resorts Chief Executive, James Murren, also expressed his concerns over the recent casino regulations outlined by Japan's Government. The bureaucrats in Japan “have been evolving this gaming legislation very, very intensely".
““The opportunity in Japan is unclear at the moment, MGM CEO pointed out.
”
Japan is currently evaluating a series of measures that could have a significant impact on key determinants of gaming revenue. Among recommendations released this month by a government panel are:
- limits on the amount of casino space within the resort area
- a possible ban on ATMs in the casino
- tax rates, with a fixed fee and a proportion of gross gaming revenue
- limits on the number of times local residents can visit the casino
- registration system called “My Number" to be used as identification for locals and foreign residents
Read the full report.
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