THE MACAU METRO MONITOR, SEPTEMBER 19, 2013
WYNN CONSIDERS INVESTING OVER US$4 BILLION IN JAPAN CASINOS Macau Daily Times
WYNN is considering an investment north of USD4 billion in Japan casino resorts if it wins permission. MGM has also commented about investing “several” billion dollars in the market if given the opportunity.
Hiroyuki Hosoda, the chairman of a cross-party group of lawmakers promoting casino development in Japan, said that the group aims to submit a casino bill to the next diet session which starts in October and pass the bill in the following session of parliament. A competitive bidding process will be needed before one or more casino resorts can be developed, he said. It would take five years after the legalization before the first casino is operational, Hosoda said.
MGM and WYNN said that they plan to partner with local consortiums to develop casino projects. According to managing director of global development for LVS, George Tanasijevich, LVS is also “open minded” about having local partners.
Among speculated local partners are trading companies such as Mitsui & Co., Mitsubishi Corp. and Itochu Corp. and gaming machine makers Sega Sammy Holdings Inc. and Konami Corp. The trading companies have project-finance experience and real estate development connections, while the game makers have helped develop casino projects and technology outside of Japan. The specific details about sites and operators will probably come after legalization.
Possible sites include the Odaiba section of Tokyo, an island of reclaimed land in Tokyo Bay, between Haneda airport and the business district surrounding the city’s main train station. Sands will fund Japan casino resorts with existing operating cash if allowed to build, Tanasijevich said.
Tokyo’s potential as a gambling market is also drawing interest from CZR, SJM, and MPEL.
POLITICS DELAYS BILL TO LEGALIZE CASINOS IN TAIWAN Macau Business
Time is running out for the governing Kuomintang in Taiwan to pass legislation that would permit casinos on outlying islands. GamblingCompliance.com reports that a committee crucial for the passage of the bill has no plans to meet ahead of the end of the current legislative session in December. A political stalemate is also threatening to stall the bill’s passage into law. A lobbyist in Taiwan for Park Strategies, Anita Chen, said gaming legislation was included in the premier's list of some 45 priority bills.
Weidner Resorts of Las Vegas is the only company that has openly campaigned for a casino-resort, on Matsu.
MACAU CPI DSEC
Macau CPI for August 2013 increased by 5.31% YoY and 0.17% MoM.
OFFICIAL DENIES PLAN TO EXPAND SOLO VISA SCHEME Macau Business
Macau Government Tourist Office director Maria Helena de Senna Fernandes says there is no plan to extend the individual visa scheme to more mainland cities. Apple Daily newspaper said Hong Kong officials had suggested the scheme could be extended to tourists from the northern cities of Qingdao, Taiyuan and Xi’an.