At today’s International Casino Conference, taking place at London ExCeL as part of the ICE VOX series of conferences, a panel of high-profile names sought to reassure the floor, and each other, that Japan’s move towards the implementation of the country’s integrated resorts plan is creeping nearer.
Jan Jones Blackhurst, executive vice president of public policy at Caesars Entertainment, and former two-term mayor of Las Vegas, asked the panel to set out their views on the ongoing legislative process in Japan – and heard some conflicting views in response.
Edward Tracy, CEO of Hard Rock Japan, was first to stoke things up when asked simply for a view on what is going on with regard to the legislation that would green-light integrated resorts in the country. “I have no idea,” said Tracy.
“It’s very hard for us, for anyone, to know for certain when Japan itself has no idea. All we know was that a bill was passed that allows casinos to be included in integrated resorts.
“So you have to reverse engineer,” said Tracy. “To work backwards from what we think might happen. But they’re taking their time and being thoughtful and its hard for us to know,” he said.
“We ask Japan to embrace the integrated resorts community. We have the knowledge and the experience – how to contribute to society, to the economy. Governments, in Japan and elsewhere, are inclined to hold us at arms length in case of any unfavourable optics.
“The next piece of legislation, when it comes, will write the story.”
Ed Bowers, executive vice president for global development at MGM resorts, added some detail but was no more clear on the timetable: “We hope that in 2018 a second piece of legislation could get passed plus the gambling countermeasures bill, which is also important. Having said that, once those two bills go through, there’s still more time to wait in terms of getting the detail of the law. We still need to wait and see the details for the bill to get debated, let alone implemented.
“This is going to be a long journey,” he warned. “I’m hopeful but in terms of knowing the type of resort that could be built, where it would be, how much it would cost to build? Its hard to know at all.”
Akira Kurita, an integrated resorts specialist for Hakuhodo, was more optimistic: “The Ordinary Session is scheduled for January to June 2018.
“People are sceptical but I am confident [the implementation bill] will be passed in this session – and as an industry we need to be ready.”
Kurita urged the panel to not lose momentum. “The Casino Promotion bill was passed in December 2016 but the next key piece of legislation is the bill outlining implementation law. The ruling party is now taking consultations on the implementation law but only until March 9. So we have just a month to work together and get our opinions heard.”
Jones Blackhurst pressed the panel to venture a prediction on the number of licences for casinos at integrated resorts. Here there was, for once, consensus – that “two perhaps three” licences would ultimately be issued.
Quite when Japan will be ready to request proposals and invite applications remains a matter of some debate and no little uncertainty.
