New Japanese casino law likely in the second half of 2018
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According to Japanese brokerage Nomura, Japan is on the path to pass its Integrated Resorts Implementation Bill during the second half of this year or the maximum by the first half of 2019. This report arrived on the wake of the agreement reached earlier this week, among members of the ruling coalition, the Liberal Democratic Party and Komeito party, on fixing casino entry fees of JPY6000 (US$57).
The note, dated Tuesday, cited that four main locations are currently being considered for the initial phase of three casino resorts: Nagasaki, Hokkaido, Osaka and Yokohama. Nomura analysts Harry Curtis, Daniel Adam and Brian Dobson said: “We expect the length of the concessions to be similar to the initial seven-year exclusivity period, or approximately seven to ten years, with the option for additional 10-year renewals.”
“While the latest consensus could pave the way for a possible passing of the Implementation Bill before the end of the current parliamentary session on June 20th, we believe the more likely scenario is that the bill is passed in second half 2018, first half 2019.”
Source: European Gaming Industry News