Sunday, October 27, 2013

Genting Bhd/ Genting SP - Japan's Plan

Its near term catalyst include Japan's plan to revive the liberalisation of its gaming industry.

Japan had started initiating a plan to liberalise casinos via a proposed legislation to allow gambling resorts to be developed in big cities and regional areas. Tokyo and Osaka could potentially be among the sites for the casinos.

If the casino bill is passed during the next legislative session, Japan could open its first casino resort as early as 2019.

Genting Singapore is mandated to represent Genting Group in bidding for large-scale gaming liberalisation in East Asia, including Japan.

This is the most anticipated gaming liberalisation in the region as it has always maintained that should United States offer the most exciting gaming liberalisation theme in the West, then the potential gaming liberalisation in Japan will be the most anticipated gaming event in the East, or even in the gaming world.

This is in view of the sheer size of its economy and the popularity of its existing gaming market with a mere presence of Pachinko and Pachislo.

Japan's casino proposals were first mooted by legislators in 2002, but only to be deferred due to political instability and concerns that legal gambling may lead to corruption, money laundering and other crime.

Japanese Prime Minister Shinzo Abe appears to support the casino plan in view of Tokyo's upcoming hosting of the 2020 Summer Olympics, which may induce Japanese lawmakers to liberalise the sector to provide entertainment to visitors.

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