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Reports


MARKET REPORT: JAPAN


Last year, Kamori Kanko announced a US$200m partnership with developer Niseko Alpine Developments, to build a luxury hotel and spa facilities in the area. Te company already owns Rusutsu village’s ski resort, golf courses and theme park.


Galaxy Entertainment and SBM have teamed up in light of Japan’s casino market opening. Te two agreed on a formal strategic partnership to operate and develop Integrated Resort projects in the Asia Pacific region and Japan in particular.


Both GEG and SBM recognise the potential in this market and have linked their luxury premier resort brands with a luxury hospitality brand.


Galaxy is already successful in Asia and opened their flagship property Galaxy Macau in 2011 and today also operate the Broadway Macau and


P114 NEWSWIRE / INTERACTIVE /MARKET DATA


Starworld Macau plus three City Club casinos in Macau.


Las Vegas Sands Corporation is also eager to open a world class IR in Japan which will focus on exhibition halls, concert hall and sports facilities and say this would surpass their $5.6bn Singapore Marina Bay Sands resort. A figure of $10bn has been cited in terms of investment.


LVS already operates 10 IR facilities around the world and has nearly 70 per cent of the Singapore casino market and is expected to be a front runner in the Japanese sector.


Caesars Entertainment CEO Mark Frissora was in Japan in March soliciting support for his company and met with Osaka governor to discuss a resort strategy. Caesars recently became an official partner of Osaka’s bid to host


the 2025 World Expo. Tey are the fourth casino company to sponsor the city’s bid after Melco, MGM and Hard Rock.


Osaka is bidding against two other countries – Baku in Azerbaijan and Ekaterinburg in Russia (after Paris dropped out) – with the winner to be announced in November. Osaka’s plans call for the expo to be held on Yumeshima, a 390 hectare artificial island in Osaka Bay. It is thought the direct economic effect of hosting the expo will be around ¥1.9trn although infrastructure costs (such as extending transport links to the island) will be required first off.


Te issue of a casino bid could have an affect. Te Osaka mayor says the city would hope to earmark a 70 hectare portion of the island to have a casino built on the island before the 2025 Expo which will utilise a separate 60 hectare site, but there is concern among expo supporters


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