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More Speculation of Online and Land Based Casino Operations in Japan Released

More Speculation of Online and Land Based Casino Operations in Japan Released
More Speculation of Online and Land Based Casino Operations in Japan Released Japan is welcoming the casino industry according to online reports and updates featuring the much anticipated gambling operations and proposals in the jurisdiction. Based on leaked information from reliable sources in the past week, two major bookmaking companies in Nevada have formally made inroads with no less than the Japanese officials. According to reports, the agreements and deals between the gaming authorities and Japanese officials, there are plans to build roughly $5 billion worth of hotel and gambling complexes based in Osaka. There are now other bookmaking operators who have set their corporate jets pointing towards the eastern part of Asia in the Japanese island nation. It seems that everything is in perfect shape and the only missing link is the legislation in the country giving authority for gaming properties to operate in Japan. There are gaming leaders as well as gambling analysts who are expressing optimism as to the up and coming welcoming of Japan for land based and online casino. Based on their analysis, Japan is basically a foregone conclusion since it already took the country years of toying with the idea of finally opening their threshold to the bookmaking industry. Japan has long been given numerous options in order to finally give their sought after Yes to the legalization of gambling in the country. Gaming leaders and analysts are likewise hoping Japan will finally give its approval to a gaming bill particularly this year. According to reports, the Japanese government is asking for gaming taxes in connection with the funding of construction of the upcoming 2020 Summer Olympic Games to be held in Tokyo. The construction which is still on going is roughly $2 billion worth of infrastructure and venues. Japan is deemed as the next Macau, Asia’s current huge bookmaking market which has huge potential to be a global gaming venue. Macau in the past fiscal year has produced a record breaking $45.2 billion gaming revenues and profits. There are however analysts who suggest that a much better comparison to Japan is that of the bookmaking industry in Singapore. The land based and online casino market of Singapore has two gaming resorts. Based on financial reports for the Singaporean gaming industry, the gaming revenue for gaming in Singapore is as close as that of the generated profits of Las Vegas topping $6.2 billion in fiscal year 2012. Last fall of 2013, the Union Gaming Group held a well accepted and well attended conference in Tokyo focusing on the gaming expansion in Japan. Union Gaming Group also predicted that the Japanese market has the potential to produce a whopping $10 billion worth of annual gambling revenue. There are other gaming analysts who forecasted that Japan’s land based and online casino industry could potentially generate as much as $15 billion on an annual basis. Carlo Santarelli, a gaming analyst from Deutsche Bank told investors that the demographical factors do support much higher numbers and Japan has this particular edge. Upon legislation and legalization of gambling in Japan, gaming leaders and analysts are foreseeing four gaming properties in the country. Plans disclosed there will be one gaming property each for major cities based in Japan including Tokyo and Osaka. Two regional areas and Japanese jurisdictions will likewise be venues however the specific areas will be determined. As per the disclosed plans, the developments of bookmaking properties in Japan are integrated resorts which have convention spaces, shops, dining and entertainment features. David Gibson, gaming analyst from Macquarie Securities based in Tokyo told reporters, “Foreign investment is essentially important to be successful in Japan’s two major cities thus the government is anticipating majority foreign ownership. Moreover, the regional jurisdictions of the country will also have more involvement for local operations of the bookmaking industry.” Land based and online casino operators are eyeing Japan due to its potentials to generate massive income and profits. Companies who are interested and lining up for the possible Japan gaming expansion include Caesars Entertainment Corp.

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