Potential Risk Considerations for Gaming Operators in Japan
June 26, 2019, G3 Newswire, by Lewis
AG Burnett, Partner, Gaming and Administrative Law Group, McDonald Carano, former Chairman of the Nevada Gaming Control Board, speaks exclusively to G3 about the challenges facing operators relishing the prospect of an IR operation in Japan.
Everyone in the gaming industry is watching Japan. Cities in Japan are pushing to win integrated casino resort gaming approvals, and gaming operators are working hard to join them. The excitement has extended to lending institutions, construction companies, and entertainment companies as well, since the potential gaming market in this country of over 128 million people. The numbers reveal why this excitement is justified.
Of those 128 million people, almost 78 per cent are over the age of 25. Nearly 92 per cent of the population lives in major urban areas, such as Tokyo, and in this highly educated society there is a low level (3.6 per cent) of unemployment, and the poverty line hovers at around 16 per cent.
Further, the government, a parliamentary constitutional monarchy, is very stable and well organized. I suspect that the Japanese will create a well-regulated and successful gaming industry. While I was Chairman of the Nevada Gaming Control Board, and I am sure after that, many members of the Japanese government and prefects came to Nevada to study gaming regulation. Members of the Diet, dignitaries from many of the prefectures, and other government representatives all seemed very keen and studious when they met with GCB officials. Their questions were always very thoughtful and considerate; it was readily apparent that they were going to do things only after a cautious and deliberative approach. The fact that they were collectively taking part in this process several years ago, when gaming would still not be realized for several years (Osaka wishes to begin casino operations concurrent with the World Expo in 2025, for example) speaks highly of this very thoughtful approach.
The advent of integrated casino resorts in Japan will herald a new era for entertainment and tourism there. With that, however, there are some new risk areas for the regulators and the government to consider. To read entire article click here.
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