THE M3: JAPAN UPDATE; MGM

The Macau Metro Monitor, November 2nd, 2010

 


JAPANESE LEGISLATORS DISCUSS SINGAPORE'S CASINO EFFECT GamblingCompliance, macaubusiness.com

During The Japan Academy of Gambling and Gaming Studies panel discussion,  panelists said no decision has been made on the Casino Act submission date to the Diet, any taxation plans, and potential destinations.  Hakubun Shimomura, congressional representative for the Liberal Democratic Party, and Kazuaki Sasaki, assistant professor at Nihon University College of Economics, believe casino taxation in Japan will be similar to that of S'pore's--low in the beginning and higher later.  Issey Koga, congressional representative for the Democratic Party of Japan, reiterated his hope to submit the draft by the next Diet session.  “We were targeting our draft law to be submitted by now last year and it didn’t happen,” Koga said. “I’m hoping we’ll be able to push the draft law through by next year.” 

Michael Hands of Penn National, stressed PENN's primary interest in the prefecture of Kyushu, particularly Fukuoka--its  capital city, but he said that the tabling of a bill during the next session would be the signal for various regions to get organized, select locations, create concepts and create consensus.  Matt Maddox, CFO of WYNN, said if WYNN builds a casino in Japan, it will be "very unique."  Ten casino operators including Harrah’s Entertainment, Penn Gaming, and MGM Resorts International have expressed interest in Japan.

MGM IS NO LONGER IN LAST PLACE Intelligence Macau

IM thinks MGM may not be buying market share as aggressively as people think.  IM said the mass floors at MGM were busier than WYNN's and the new incentives for the VIP rooms are not "as outlandish as" what Adelson claimed.