Operators Compete for Japanese Casino Licenses

August 21, 2018

The Japanese government has finally given the go-ahead for casino gambling, and the market is about to heat up. Three casino resort licenses are available for which nearly a dozen gaming operators will be competing. They are definitely pulling out all the stops when it comes to courting local officials, and we’ve seen some extraordinary displays of courtship. Big Brands Spending Big Bucks Most recently, Melco Resorts and Entertainment, a gaming operator based in Macau, hosted an impressive fireworks display after meeting with Osaka’s governor. Additionally, MGM chief executive Jim Murren hosted a party for 100 attendees on a chartered… Read More

Casino Gambling Legalized in Japan

July 21, 2018

It has been a long time coming, but casino gambling is now finally legal in Japan. The country’s upper house of parliament has passed the bill that will permit three casinos to open as integrated resorts. The decision remains controversial, however, as more than 60% of Japanese residents are against legalizing casinos. Many Rules and Restrictions Apply There are plenty of caveats tat come along with the casino legislation. Operators will have to pay 30% tax on gross gaming revenue, and the casino is only permitted to occupy 3% of the size of the resort. To prevent problem gambling, Japanese… Read More

Las Vegas Sands Increases Loan Term

Las Vegas Sands
June 12, 2018

A few months ago, the Las Vegas Sands needed a loan extension. They reported to the US Securities and Exchange Commission that it would need time to repay the loans and asked for the extension for the Marina bay Sands Casino. The casinos are in Singapore. They asked for an extension of three years, which would mean a repayment date of 2024. The revolving loans that are held by the company were set to end in February of 2020. The new maturity date was granted. Las Vegas Sands is not asking for another change to the loan. They would like… Read More

Government Grants New Anti-Gambling Addiction Law in Japan

Government Grants New Anti-Gambling Addiction Law in Japan
May 29, 2018

The Japanese Diet has taken the rise in problem gambling extremely seriously, this past weekend a new law was swiftly approved in the first chamber of the Japanese Diet. The timing of the new act, which will aid individuals who have been identified as having negative gambling tendencies, has come into the limelight at just the right time. The Liberal Democratic Party or LDP has positioned the Integrated Resorts (IR) Implementation Bill as a number one priority on the to-do list for the next government session. Putting Differences Aside It was recently reported that the three major parties within Japan,… Read More