The gambling field in Japan appears to be well on its way and this has resulted in the increased interest of casino operators towards the budding field providing them with opportunity for a new operation. Suncity Group which is one of the most-renown junket operators in Macau has made it clear that it will find a way for entering the new market and this is going to happen with the help of a consortium made up of companies operating in Japan.
For the time being the said businesses were not publicly announced and they shall remain unnamed. The official announcement was made at the long-anticipated Global Gaming Expo Asia which took place this week. According to the information given by the junket operator in relation to the future plans for development in the new gambling field this new alliance is set to look into the opportunities for filing an application for one of the casino licenses for operation which are expected to be issued by the authorities in the foreseeable future.
This process is expected to facilitate the introduction to the future gaming field as well as make the transition smoother. During the G2E Asia which saw its official final day this Thursday, Andrew Lo who is the Executive Director of the junket operator clarified that for the time being the sum to be invested has not been specified. The driving force of it would be the site of construction where the casino resort is going to take place, as well as the decision of the Diet. As it is known for the time being the authorities are still debating over the casino legislation of the country and how it is going to shape the future field.
Future Prospects for Suncity
The very need for this consortium of companies shows the state at which the industry is currently at. Since there is still work to be done when it comes to the gambling industry of Japan, the consortium will have to work on trying to provide a deeper understanding of what is taking place.
In his statement Mr. Ho also specified that the future project might cost anywhere from $50 billion to $500 million, depending very much on the proposed location where construction is going to take place. However, he claimed that in case the taxes applicable are too high, this could lead to Suncity exploring other Asian markets instead.
At the moment it is known that there will be as many as three casino licenses for integrated resorts operation, meaning that the market will be rather on the slim side. As revealed by the Governor of Osaka Ichiro Matsui, the Diet debate and consideration proceeds smoothly, with the Integrated Resorts Bill set to be turned into law. After this happens, the first integrated casino resort is expected to be established by the year 2024.