After MGM waived its right to exit the Japanese casino market, plans to launch casinos in the region by 2030 have entered the formalization stage.
The first casino project will be launched in Osaka, according to media reports, and is estimated to cost around $10 billion.
In addition to the casino, the project includes an entertainment complex that will boost the region’s tourism economy.
MGM’s decision likely opens the door for the project to begin as Japan continues to work hard to become one of the world’s largest new destinations for operators.
MGM’s latest financial report outlined a development timeline, with the company planning to begin preparatory work by the end of the year and begin construction in 2025.
In a recent interview, Rhino Entertainment’s Country Manager for Japan, Maya Yazaki, emphasized that there is also a “growing sentiment” in favor of online gambling regulation.
She stated, “It will be interesting to observe how the government navigates the anticipated challenges and whether it opts for legalization accompanied by measures for responsible gambling and adherence to anti-money laundering guidelines in the future.”
She also noted that success in the Japanese market will depend on a strong brand, and companies looking to enter the market must have a good understanding of Japanese culture and key features.
Japan has entered into competition with Thailand for two of the most promising emerging markets in the industry, with both countries expected to open by the end of the decade.
Despite a recent change in political leadership, Thailand still plans to open its market in 2029.
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