Fitch Ratings says it believes Japan’s casino liberalisation bill stands a better than 50 per cent chance of being passed this year.
However, it says it doesn’t believe the first integrated resort will be open in time for the 2020 Olympic Games in Tokyo. The ratings agency says it sees Japan’s casino industry as being modelled on that of Singapore, with limited licences and an entrance fee levied on locals.
Osaka and Yokohama are the likely locations for the two major IRs and multiple smaller satellite licences are also being discussed. “We think the two major IRs can generate over $6bn combined in revenues. This assumes 500 table games and 3,000 slot machines each and respective win per day rates of around $14,000 and $600.
“This is above roughly $5.5bn being generated by Singapore’s two IRs,” Fitch said.
