Insight
JAPAN Japan Gaming Congress
Gaming giants such as Macau and Singapore certainly won’t feel any effects in the immediate future, but may notice a slight shift once Japan does become operational as curious tourists travel to see the shiny new gaming district.
this will mean even less VIP punters for regions like Singapore and could have a negative impact on their annual revenues. However, until the implementation bill is passed this is still just guess work.
South Korea is another major gambling region that could potentially be affected by Japans’ emergence. Tis regions model is quite different to the countries mentioned above because domestic customers are completely banned in all but one of their 17 casinos. Investment bank Morgan Stanley said in a note that it viewed South Korea’s foreigner-only casino model as “inherently unattractive and volatile, given the lack of a local feeder market.”
The Japan Gaming Congress, organised by Clarion Gaming, takes place May 10-12, 2017 in Tokyo, Japan www.japangaming
congress.com
P52 NEWSWIRE / INTERACTIVE /
247.COM
Late last year it was reported that Genting Singapore had actually exited their South Korea IR project by selling its share of $1.8bn Resorts World Jeju to re- focus on Japan, seen as a better potential for return. Also, coupled with the fact that in 2015 Chinese authorities arrested casino marketing representatives of Korean casino operators, Paradise Group and Grand Korea Leisure for casino marketing activities. Tat was accompanied by an intensified public campaign to discourage Chinese from gambling in Korea. Tis is a clear sign that perhaps South Korea should be worried about Japan who may now provide an even stronger incentive for the Chinese not to visit their facilities.
It seems the relationship between these Asian jurisdictions and mainland VIP customers plays a
strong role in determining gaming success. But with Japan expecting to have majority domestic customers, perhaps the impact on the rest of the continent will be minimal. Gaming giants such as Macau and Singapore certainly won’t feel any effects in the immediate future, but may notice a slight shift once Japan does become operational as curious tourists travel to see the shiny new gaming district.
One thing for sure is that there is definitely enough gaming activity for them all to be successful. It just depends on the model they wish to go for as demonstrated in the examples above. A sentiment shared with Nick Santos, Founder and CEO of property consultancy CBRE Philippines. In a recent interview he explained that ‘Asia’s gaming pie is getting bigger, not dwindling. Knock-on effects like real estate demand, conferences, exhibits and arts events can give casinos a powerful economic multiplier effect. It’s all about how a city or country positions itself’.
If you are interested in Japan and the opportunities it has offer be sure to attend the Japan Gaming Congress taking place in Tokyo, 11th – 12th May 2017. Te Congress is a three-day educational forum that will offer a clear, practical insight and understanding into the casino legislation in Japan. With an expected six months before the first licenses are issued now is the time to fully understand the potential complex nature of IR Casinos in one of the potential superpowers in Asia.
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