Japanese regional authorities will take part in the creation of IRs
Japanese authorities are actively exploring potential locations for the construction of integrated resorts.
IR Promotion Secretariat, which coordinates casino liberalization policies, has established 47 prefectures and 20 major cities with the authorities on the placement of a casino resort.
In Japan, at the initial stage, the construction and development of three IRs was approved. It is expected that in 2020 the central government will begin the process of initial selection of territories for the construction of IR and will accept applications from local authorities.
In 2021, the first location of the integrated resort should be approved. The year 2023 will be devoted to the further selection of locations of two more allowed objects.
Dates of opening the first resorts are currently not set, but investment analysts report that, based on the experience of the Macau market, building a large-scale multi-billion integrated resort usually takes at least three years to build.
Some regional authorities have already submitted a request for information (RFI) or an application for the implementation of the concept (RFC) aimed at the business sector to assess the propensity of potential investors to invest in projects.
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