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Abe continues to push for gambling in Japan

  • Japan Prime Minister Shinzo Abe has created a task force to stoke up interest in legalizing gambling in the nation.
  • Pending legislation hasn't been passed yet by lawmakers in the nation as they pushed off debate until the fall.
  • Japan casino players: MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), Wynn Resorts (NASDAQ:WYNN), Genting, Las Vegas Sands (NYSE:LVS).
Comments (4)
  • Liam Garrity-Rokous
    , contributor
    Comments (184) | Send Message
     
    I definitely believe that Abe will do everything in his power to get gambling legalized in Japan, and this news report strengthens that belief. With Abe backing the casino bill, I believe that the bill has a very good chance of passing in the Autumn session of parliament.

     

    The "task force" will help get people interested in the bill, which will help force members of Japan's parliament to vote on the bill rather than have voting be delayed again.

     

    These are the type of actions that need to take place if casino operators have any chance of building an integrated resort before the 2020 Summer Olympics in Tokyo.
    25 Aug, 04:04 PM Reply Like
  • jensan96
    , contributor
    Comments (91) | Send Message
     
    Liam do you honestly believe it will cost 10 billion an Integrated Resort in Japan. What tax consideration will be allotted to the winners of the Casino
    25 Aug, 06:46 PM Reply Like
  • Liam Garrity-Rokous
    , contributor
    Comments (184) | Send Message
     
    I'm not exactly what statement of mine you are referring to, but I'm guessing it was my article on LVS where I talked about how Sheldon Adelson said he was willing to spend $10 billion on an IR in Japan.

     

    Honestly, I doubt it will cost $10 billion, but I'm betting it will be very expensive. LVS isn't one for "going small" so I'm willing to bet that if casinos are legalized in Japan LVS will outspend all of its competitors, and build the biggest (and the most expensive) Integrated Resort. I'm also expecting building costs in Japan to be considerable, due to all the new contracts that the casino operators will need to pay for in the region. Also, I'm guessing that casino operators will be rushing to build their resorts before the 2020 Summer Olympics, and rushing to build something usually means it will be more expensive.

     

    To be honest, the amount that LVS ends up paying to build an IR in Japan will probably depend on how much land the company is "allotted" to build on. I would expect LVS to use the maximum amount of land that it is "allotted," and if that piece of land is substantial then I'm sure LVS will be building a very large and expensive resort.
    25 Aug, 07:04 PM Reply Like
  • Mike P.
    , contributor
    Comments (82) | Send Message
     
    I was curious to know if any of you on this forum heard of Kennilworth Systems Inc. KENS is a pink sheet however, I recently heard news that the company this year will be introducing live video gaming stations at casino tables in the United States and abroad.

     

    Will KENS be able to put this kind of program together quietly? Will this be just what the doctor ordered for casinos that are projected to take a hit this year?
    27 Aug, 12:52 PM Reply Like
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