The central government wants by July next year to announce the policy framework under which those local governments can make their respective pitch to the national authorities.
A total of up to three such resorts will be allowed in the first phase of the policy, according to the Integrated Resort (IR) Implementation Act, passed by lawmakers in July.
According to the Mainichi Shimbun news outlet, the Office of Integrated Resort Regime Promotion – known as the IR Promotion Secretariat – began in late September the process of talking to the authorities in all the 47 prefectures and 20 major urban settlements inviting written information from them, and where appropriate spoken communication on the topic.
By July next year the timetable for practical introduction of casinos should nonetheless become clearer. According to information collated by GGRAsia, this will include – as of that date – the basic IR policy, stipulating when and how to select the up to three resort sites for the first phase of market opening up.
After that, interested local governments are to form their local-level implementation policy, which should stipulate how each will select its business partner – expected to be in the form of a consortium involving several organisations, rather than a single entity.
In 2020, the central government is expected to launch an initial selection process for sites and to accept applications from local governments. In 2021, the national government is expected initially to accept at least one, and possibly two, sites.
In 2023, the central government would launch a further selection process, to choose the remaining balance of the three sites initially permitted.
Opening dates for the first resorts have not currently been specified, but investment analysts have said that – based on the experience of the Macau market – it would typically take at least three years to construct a large-scale, multibillion-U.S.-dollar gaming resort.
Source: GMB / GGR Asia
