After declaring 14 December an "historic day” for the global gaming industry, Akiyoshi Tsuruoka, general manager of Gaming Capital Management, a Tokyo-based gaming consultancy firm, said the development of mixed-use leisure and gaming destinations will not happen before 2024, two or three years later than many analysts’ predictions.
"After the first bill passed, the government disclosed that it is ready to establish, in January 2017, the Promotion Team for Zone Preparation of Integrated Resorts, led by Prime Minister Shinzo Abe,” Tsuruoka toldTotallyGaming.com. "This team will be tasked with formulating the second piece of legislation – the Implementation Bill – and institutional design work.
"A maximum of 100 persons – approximately double the current number – will be hired to the Integrated Resorts Promotion Team, as the government and regulatory authorities decide on the location of the Special Economic Zone.” He added: "The designated local government will select a private operator and will oversee the urban planning and environmental assessments.”
Discussing Japan’s constitutional process, Mikio Tanji, chairman of Gaming Capital Management, said: "It may take up to a year to finalise these regulations, which would need to be discussed, once again, by the government. This might require one or two Diet sessions.”
Although Japan’s IR legislation could be ratified as early as 2018 or 2019, Tanji noted that the government would still have to decide upon the location of the casino and conduct a selection process to determine who would operate the resort. The fact that the country lies in an earthquake zone and has strict building regulations would further impact the developmental timeline.
"It would take at least six months for the basic design, and one or two years will be necessary for authorisation of construction,” Tsuruoka stated. "Therefore, the year 2024 is the earliest for opening because at least additional a few years will be taken for its foundation and construction.”
Source: GMB / Totallygaming.com
