The press in Japan announced the date of the establishment of the Casino Management Commission, which will oversee the creation of the country’s first integrated resort project (IR).
According to the latest information, the gambling commission in Japan will start working on January 7, 2020, and while active preparations are underway for the launch of the casino industry. The so-called Casino Management Commission (CMC) will report to the Cabinet of Ministers of Japan, in particular, Prime Minister Shinzo Abe.
According to Japanese media representatives, before appointing officials to manage the Commission, the National Diet, which acts as the parliament in Japan, will have to check the candidates. In total, 5 members of the commission are going to choose, each of whom will be elected for 5 years.
The work of the Commission will be the conduct of various activities related to the creation of a comprehensive resort (IR), the opening of which is scheduled for 2024-2025. CMC will monitor compliance with all security requirements and ensure that all casinos pass the necessary checks.
CMC will also monitor operator integrity. Initially, in Japan it is planned to open only three such resorts, but in the future another project may be launched, since the corresponding application has already been received. So, only three operators will be able to work in the resort, while gambling will be prohibited for local residents.
Who will be part of the Commission
According to information received, in September, the Japanese government agreed on a common scheme that would allow the region to successfully submit an application. Some of the measures included:
- List of private investors.
- What are the expected financial benefits for the region.
- Ways to solve potential problems that may arise with gambling.
Regions and international investors have already begun investing in the creation of the country’s first integrated resort with a casino.
It became known which companies showed interest in the upcoming creation of the casino. Among them:
- Galaxy Entertainment Group LTD;
- Genting Singapore Co., Ltd.;
- Hard Rock International;
- Mohegan Gaming & Entertainment;
- Rush Street Gaming;
- Melco Resorts and Entertainment Ltd;
- MGM Resorts International and others.
The number of brands would be greater if it were not for the events of the last few months that have forced companies to leave the market. So, Caesars, one of the companies that was not included in the above list, dropped out of the race in August. At the moment, Caesars Entertainment is going to buy Eldorado Resorts, which is why the foreign business of the enterprise has so far receded into the background.
Another company that refused to participate in the race was Wynn Resorts Ltd. And this despite the fact that for a long time Wynn was considered in first place with MGM and was ready to participate. Nevertheless, MGM representatives assured the Japanese government that they still want to set up their casino in Osaka.
So, Japan may suddenly become one of the largest casino markets. According to the analysis, after its opening, a business casino in Japan can make a profit of $ 25 billion every year. In the meantime, all this happens, we will follow the news together.