Japan to Publish Basic Policy for IRs ASIA & OCEANIA
Whilst the pandemic will delay Japan's IR implementation period in 2021, the final version of the government’s Basic Policy for IRs will be published in July
COVID-19 could delay the release of the Fundamental Policy as Central Government is redirected to more immediate needs
JAPAN LEGISLATION
NEW ZEALAND – Mid-May saw businesses other than bars reopenning across New Zealand, including retail stores, malls, playgrounds, cinemas, and gyms, but with strict physical distancing and hygiene requirements. People from May 14 were able to socialise and travel around the country.
In addition, all schools and early childhood centres opened on May 18, with bars allowed to reopen on May 21, with gatherings limited to 10 people. Masks on public transport were no longer be required, though the arrangements were to be reviewed in June and appraised every two weeks.
SkyCity stated that its Auckland and Hamilton casinos opened for premier rewards customers on May 14 and for other customers on May 17. Its hotels started taking bookings and its restaurants opened on the 15th. SkyCity decided to keep one of its two casinos in Queenstown closed due to the drop off in tourism. As the lockdown took hold in March, the company announced plans to let go of 700 of its staff.
“We have a comprehensive plan in place to ensure our guests and staff feel safe – backed up by contact tracing protocols,” stated Chief Executive, Graeme Stephens, who said that distinct zones would be created on gaming floors to limit groups to one hundred and EGMS would be moved apart to maintain social distancing. Wearing masks would be voluntary for staff and guests.
Since the lockdown SkyCity lost more than half a million dollars a day in staff costs alone and is down $90m a month in revenue. Mr Stephens said there would be no international visitors for the foreseeable future, large gatherings were limited, and domestic customers likely to be more frugal, “so the economic outlook is dicey.”
VIETNAM – Hoi An South Development Co Limited, the Vietnam-based joint venture of which Suncity Group holds a 34 per cent stake, has secured a casino operating license for its Vietnamese integrated resort, Hoiana, running until December 2080.
Hoiana, a joint venture between Suncity, Chow Tai Fook and VinaCapital Group, is located in Hoi An South on pristine beaches in Vietnam’s Quang Nam province.
Whilst the opening has been delayed until 2021 due to the COVID-19 pandemic, SunCity will host an ‘exclusive preview’ later this year of the $1bn Phase 1 of the project, which would include a casino with 140 gaming tables and 1,000 slot machine, restaurants, an 18-hole golf course and more than 1,000 hotel rooms.
P24 NEWSWIRE / INTERACTIVE / MARKET DATA
Japan-based consultancy Bay City Ventures has released a report detailing the timeline for the implementation of Integrated Resorts in the country. Managing Director Joji Kokuryo said: “Te submission period for IR implementation plans to the Central Government by local governments and their IR partners runs from 4 January 2021 to 30 July 2021. Tis clear deadline affects every single timeline. If there are to be changes, it is much more likely that the July 2021 deadline is moved than the 26 July 2020 date, as the latter would involve revising the IR Implementation Law.
“Te four candidate local governments [Osaka, Yokohama, Nagasaki and Wakayama] have been moving around their schedules for a variety of reasons, however the one constant has always been to have their IR business partner decided in Autumn 2020. Tis is a simple back calculation from the July 30 2021 deadline, because there must be sufficient time to openly discuss and create a sound business plan for their application to the Central Government.
“Regardless of when the RFP procedure begins, local governments currently have a rough
Las Vegas Sands withdraws from its Japan IR bid
Japan
Las Vegas Sands has revealed that it will no longer pursue its bid to develop an integrated resort in Japan. LVS, which had chased the license in Yokohama, said it would instead focus its energies on “other opportunities,” pointing to the framework around Japan’s IR licensing as the reason for the departure.
“My fondness for the Japanese culture and admiration for the country’s strength as a tourism destination goes back more than 30 years to the days when I was operating COMDEX shows in Japan and I’ve always wanted our company to have a development opportunity there,” said LVS Chairman and CEO Sheldon Adelson.
estimate of two to three months after receiving operator proposals to select their IR partner and at the very least seven months to finalise with their partner an IR business plan. Tis makes for a very tight schedule.”
In a white paper, Brendan Bussmann, Director of Government Affairs for Global Market Advisors, said: “As it stands currently, the central government will accept proposals from January 4 to July 30, 2021 and this timeframe will likely not move for a host of reasons. One of the main reasons for this is that the further this date gets pushed back, it is less likely that the integrated resort champion, Prime Minister Abe, will be spearheading the project."
“Currently in Nagasaki and with the recent delay in Yokohama, potential bidders may get a fair advantage to determine their best business plan and RFP submission, as they would be due after the Fundamental Policy release, should it stay on schedule,” he added. “Osaka and Wakayama have already launched their RFP processes. One would hope that operators would be given the chance to fully understand the Fundamental Policy prior to the full submission of their plans.”
“And while my positive feelings for Japan are undiminished, and I believe the country would benefit from the business and leisure tourism generated by an Integrated Resort, the framework around the development of an IR has made our goals there unreachable.
“We are grateful for all of the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities.
“I remain extremely bullish about the future of our company and its growth prospects. We operate best- in-class properties in the leading markets in our industry and we are currently executing significant investment programs in both Macau and Singapore to create meaningful new growth from our existing portfolio.”
Asia
QTech Games has announced a new virtuals deal with Kiron Interactive. Under the terms of the agreement, Kiron’s product portfolio is now available to QTech Games' clients and their players. Kiron's offering showcases numbers draws, including popular lottery and keno games, alongside classic sports betting virtuals such as horse racing, football and motor racing. Te latest of these is GOAL, Kiron’s breakout football product.
Te partnership broadens Kiron’s global footprint, opening the door to margin markets from Asia and Eastern Europe to Latin America, and creating fresh revenue streams.
Virtual sports are currently going a long way to filling the void for player engagement on a global sporting schedule which has largely ground to a halt since the outbreak of COVID-19.
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