Integrated resorts could be key to Japan’s economic strategy: Abe

June 3, 2014 Leave a comment

Integrated resorts could be key to Japan’s economic strategy: Abe

Japanese Prime Minister Shinzo Abe said casino resorts could become a pillar of his country’s future economic growth as he toured Singapore’s two integrated resorts yesterday.

MAY 31

Japanese Prime Minister Shinzo Abe said casino resorts could become a pillar of his country’s future economic growth as he toured Singapore’s two integrated resorts yesterday.

Mr Abe, who until now has remained silent on the issue of casinos, gave a strong endorsement to legislation that would legalise casino gambling in Japan.

“I think integrated resorts will be a key part of Japan’s economic growth strategy,” he was quoted by Japanese media as saying.

Japan is considering allowing casino gambling to boost tourism and attract investment. The country, home to 128 million people and the world’s third-largest economy, is widely seen as a prize market for casino operators due to its affluent population and close proximity to wealthy Asian gamblers in the region.

Yesterday, Mr Abe spent 40 minutes visiting the Marina Bay Sands, the three-pronged waterfront resort built by United States billionaire Sheldon Adelson’s Las Vegas Sands.

He was taken around the resort by its chief executive, Mr George Tanasijevich, visiting its convention centre and a viewing area to look down at the gaming floor. He then surprised tourists sunning themselves by the 150m-long infinity pool on the resort’s rooftop by appearing at the water’s edge dressed in his suit with members of the media in tow.

Mr Abe then headed to Resorts World Sentosa, which is owned by Genting Singapore.

Japan has been deliberating opening casinos for more than a decade, but the chances have never been higher than now.

While its Parliament is unlikely to pass a Bill in the current parliamentary session, which ends next month, proponents are aiming to pass it in the extraordinary session in autumn, political and industry sources said yesterday.

If the current Bill passes, debate will move on to a second Bill concerning concrete regulations, which proponents hope can be passed in 2016.

Singapore’s two integrated resorts, which combine casinos with dining, entertainment and convention business, are the preferred model that Japan would emulate, lawmakers said.

Industry executives have said in private that a Marina Bay Sands-type resort would be a good fit for Tokyo, while a more leisure-focused resort such as Sentosa would be better suited to Osaka or a regional city. REUTERS

 

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