Caesars Entertainment Corporation has set its sights on opening and operating a Japanese based integrated resort (IR), after the nation’s government passed a controversial new law earlier this year, reports the Nikkei Asian Review.
With the first license expected to be offered by 2020, and up to three IR’s believed to be welcomed initially, Caesars has joined a plethora of multinational corporations eyeing one of Asia’s last untapped gaming markets.
Unveiling its vision for the land of rising sun at a recent news conference, Caesars has been busy preparing concepts for each of the proposed locations, namely Hokkaido, Yokohama, Tokyo and Osaka, however the Las Vegas based organisation has its sights firmly set elsewhere.
Caesars president of international development Steve Tight has stressed a keen interested in Okinawa, which would be located within a forest, and amongst its offerings would be luxurious camping facilities.
“It would be a fascinating opportunity for us if the governor were to support an integrated resort, because Okinawa would be a tremendous destination for tourism,” he commented.
In close contact with a number of regions and local government, Caesars is one of a number of companies that is keen to be a part of the first round of licensing, with the city of Yokohama closing its request for information last week.
It is said that eight of twelve companies to engage are foreign based, and in addition to Caesars include fellow Las Vegas based duo MGM Resorts International and Wynn Resorts, as well as Hong Kong’s Melco Resorts and Entertainment.
It is widely expected that the first IR’s are to open their doors in either 2024 or 2025, with an oversight body handling casino regulation set to be established in the summer of 2019.
Following that, local governments interest in hosting an IR are to select operators by the close of next year, before central government chooses the winners and awards the first trio of licenses by the year 2020.
It is hoped that through passing the integrated resorts implementation bill, a greater number of international visitors will be attracted to Japan, helping to achieve the Government’s objective of attracting 60 million inbound visitors by 2030.