Race for gaming: the integrated resorts business in Japan

Author: IFLR Correspondent | Published: 5 Dec 2019

Yusuke Murakami and Kei Shirakawa of Mori Hamada & Matsumoto outline opportunities and challenges for investment and financing in the nascent market for gaming and integrated resorts in Japan


On September 4 2019, the Japan Tourism Agency unveiled its draft Basic Policy on developing casino resorts, which will likely accelerate the efforts of local governments to be selected as the first casino resort area in Japan. Hirofumi Yoshimura, the governor of Osaka Prefecture, declared that Osaka will start its local bidding process for casino operators by the end of 2019 and select its operating partner around Spring 2020. Also, Yokohama City, Wakayama Prefecture, Nagasaki Prefecture, and several other local governments have already indicated their interest in hosting casino resorts.

The economic gains for the first casino resorts in Japan are expected to be massive. According to research recently conducted by the Daiwa Institute of Research, the economic...