A delegation from the Japan Casino Regulatory Commission recently held a meeting with members of the Nevada Gaming Control Board, a leading gaming regulator in Nevada, known for the iconic Las Vegas Strip.
The purpose of the meeting was to discuss effective regulation within their respective jurisdictions. This update was shared on the official LinkedIn account of the Nevada Gaming Control Board.
Prominent figures at the meeting included Chairman Michio Kitamura and Commissioner Hirofumi Kitamura from the Japan Casino Regulatory Commission. They are responsible for overseeing Japan’s emerging casino industry, which currently employs approximately 160 staff members.
While the launch of any casino resort in Japan is still a few years away, there have been recent developments in Japan’s casino industry. For example, Osaka authorities are planning to open an integrated resort with a casino in collaboration with MGM Resorts International and Japan’s Orix Corp in the autumn of 2030. This project is expected to be a multi-billion dollar endeavor.
Japan’s first casino complex is being built in Osaka and will feature various amenities such as restaurants, shops, spas, and entertainment venues. The estimated cost of this project is $13.4 billion, and it was initially scheduled for completion in 2029. However, there have been delays in the construction process.
The Japan Tourism Agency has received a revised version of the integrated resort development plan for Osaka and a request for approval of the project’s implementation plan. Osaka recently announced a one-year delay in the planned opening of the resort, along with an increased initial investment cost.
An expert panel responsible for assessing the development plan at the national level has noted that the revised plan for the Osaka resort still does not meet the required criteria set by central authorities. Therefore, the plan will not undergo re-evaluation.
Initial approval for Osaka’s development plan was granted in April of this year. The Japan Tourism Agency is currently evaluating the implementation plan, which involves private-sector companies like MGM Resorts International and Orix Corp, along with smaller investors, forming a consortium for the development of MGM Osaka.
The gambling market in Japan, estimated to be worth $20 billion annually, could experience significant growth with the addition of three casino complexes. In an effort to address concerns about gambling addiction, Japanese citizens will be required to pay a fee of 6,000 yen for every 24 hours spent in the casino, with a portion of the fee designated for addiction prevention measures.
Despite mixed public reactions and opposition, the government of Japan has approved the project. The Osaka complex, operated by MGM Resorts International and Orix, aims to create 15,000 jobs and attract up to 20 million visitors annually. While gambling has been restricted in Japan, other forms of betting like horse racing and pachinko have a thriving market.