- Tokyo, Osaka and Yokohama identified as potential sites for casino resorts
- Japanese parliament set to detail regulations for casino industry this autumn
Casino owner and entrepreneur Steve Wynn has suggested that the Japanese cities of Tokyo, Osaka and Yokohama could be suitable for building new casino resorts.
Wynn, who is the chairman of Wynn Resorts Ltd, is currently exploring the possibility of obtaining a casino licence in Japan, and made his comments during an interview with the Nikkei Asian Review, parts of which were published last week.
Role of government
Speaking about the prospects of establishing operations in Japan, Wynn identified the three cities as having sufficient quality of supplies and staff to make casino resorts feasible, though he stressed the role of government in providing a hospitable regulatory framework:
“Rules and regulations make the difference between success and failure. The government is always a partner in this business. In designing the regulations and the law, the government can make it possible for great success in the building and the management and the marketing of such a business; or they can make it difficult.”
Earlier this week, there were reports in the Japanese media that the governing Liberal Democratic Party had secured a deal with its coalition partner Komeito to ensure that the Japanese parliament passed the Integrated Resort (IR) Implementation Bill later this autumn.
The Bill will set out a precise regulatory framework to establish the ground rules for a casino market that many experts predict could become one of the most lucrative in the world.
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