Genting Singapore is looking at the Japanese casino market and is considering Japan as a possible place to build a casino resort depending on the developments in the country’s gaming laws. It is expected that the Japanese government will pass new gaming legislation over the next year and a half. Genting Singapore is not the only leading international casino operator showing interest in the Japanese market, several others including Sheldon Adelson’s Las Vegas Sands, Caesars Entertainment Corporation and Wynn Resorts among others are keeping an eye on developments there.Last year, an attempt was made to introduce a bill, backed by legislators from several different political parties, to permit the construction of casino resorts in Japan.
The move was not successful as the fear that organised crime would become involved in the casinos still persisted. On the other hand supporters of the bill declared that Singapore legislated to benefit from gambling income from tourists while at the same time making it difficult for local people to gamble in the casino resorts. However the question of gambling laws is still under discussion and it is hoped that the parliament will bring in the necessary legislation in the near future. At a recent press conference the Chairman of Genting Singapore said that he was optimistic that something was happening in Japan.
Genting Singapore runs one of the two casino resorts in Singapore. The group is the largest casino operator in Asia. It is predicted that its Resorts World Sentosa Casino resort will top about 17 million visitors in 2013. The figure predicted for this year was 16 million visitors. It is believed that the company’s next major move will involve Japan. Genting’s Resorts World and Las Vegas Sands’ casino resort, which are the only two in Singapore, have both recently announced a loss in income from gaming towards the end of this year. For this reason investment in another market such as Japan would help boost Genting’s revenue from gambling.
There has been movement towards allowing casino resorts to be built in Japan as they would bring in revenue that would help offset some of the country’s massive reconstruction costs after the earthquake and tsunami suffered by the Japanese last year. It has been forecast that casinos, if permitted could bring in over 41 billion dollars per year. Genting and the other interested operators are hoping for a part in this potentially lucrative market.