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13:25 Thursday 21 January 2021
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  • NEWS
    The profound impact of Sheldon Adelson

    The profound impact of Sheldon Adelson

    Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

    Imperial Pacific taps former Saipan senator to become new CEO

    Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

    Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

    Two Landing directors voted out, Chairman Yang sneaks back in

    Jeju authorities track down first accomplice in Landing International theft case

    Amax shareholders approve company name change, mobile games apps sale

    Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

    Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

    Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

    Trending Tags

    • FEATURES
      2021: Japan IR – Crunch time

      2021: Japan IR – Crunch time

      In safe hands

      In safe hands

      A spirit of social responsibility

      A spirit of social responsibility

      Taxation tremors

      Taxation tremors

      10 years ago

      10 years ago

      Creating an RG culture beyond the boardroom

      Trending Tags

      • PEOPLE
        Dave Smith: Smell of success

        Dave Smith: Smell of success

        Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

        Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

        Creation theory

        Creation theory

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Dark days

        POST-COVID2: The most transformative business shock of our lifetimes

        Dominic Laubach: Global explorer

        Dominic Laubach: Global explorer

        Trending Tags

        • COLUMNISTS
          Memories of the man that was Sheldon Adelson

          Memories of the man that was Sheldon Adelson

          Big money

          A decade of differentiation

          A decade of differentiation

          How to set up for IR success

          How to set up for IR success

          Macau: Taking a sensible approach to responsible gaming

          Macau: Taking a sensible approach to responsible gaming

          Time to realign?

          Time to realign?

          Trending Tags

          • TECH TALK
            Creation theory

            Sega Sammy Creation aiming for “maximum fortune” in 2021

            IGT launches new game for its strong performing Ying Cai Shen link

            IGT launches new game for its strong performing Ying Cai Shen link

            Jumbo given GLI certification for new Long Yi Fa jackpot link games

            Jumbo given GLI certification for new Long Yi Fa jackpot link games

            Aruze Gaming launches two new pachinko-inspired slot titles into Asia

            Aruze Gaming launches two new pachinko-inspired slot titles into Asia

            First-class showcase in the virtual space

            First-class showcase in the virtual space

            Badge of honor

            Badge of honor

            Trending Tags

            • iGAMING
              Live-games integration as an effective marketing tool for increasing bets

              TVBET to enter the Montenegro iGaming market

              Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

              Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

              PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

              Philippines court order preventing new 5% franchise tax could halt POGO exodus

              MGM Resorts looking to raise US$750 million via senior notes offering

              MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

              Evolution launches world’s first online live Craps game

              Evolution launches world’s first online live Craps game

              Duterte extends “modified” quarantine measures across Metro Manila to 31 May

              PAGCOR sees regulatory fees from POGOs halved as Philippines online gaming industry shrinks

              Trending Tags

              • EVENTS
                Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                Castle in the Sky

                Osaka IR & Inbound Business Seminar canceled due to COVID-19

                SBC launches new SBC Digital 2021 events program

                SBC launches new SBC Digital 2021 events program

                IAG named Lead Media Partner for Phil-Asian Gaming Expo (PAGE)

                Phil-Asian Gaming Expo says Manila’s SMX Convention Centre to be sole venue for PAGE 2021

                IAG spreads Christmas cheer at Macau After Dark 7

                IAG spreads Christmas cheer at Macau After Dark 7

                IAG releases 7-minute long-format post-event highlights video from 2020 Asian Gaming Power 50 Black Tie Gala Dinner

                IAG releases 7-minute long-format post-event highlights video from 2020 Asian Gaming Power 50 Black Tie Gala Dinner

                Trending Tags

                • MACAU
                  The profound impact of Sheldon Adelson

                  The profound impact of Sheldon Adelson

                  Macau: Taking a sensible approach to responsible gaming

                  Galaxy announces one-off Special Payment to eligible staff

                  Creation theory

                  Sega Sammy Creation aiming for “maximum fortune” in 2021

                  Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                  Macau visitor numbers increase for seventh straight month in December, 2020 total down 85% year-on-year

                  Analysts agree VIP sector woes to remain for years to come

                  Analysts agree VIP sector woes to remain for years to come

                  IGT launches new game for its strong performing Ying Cai Shen link

                  IGT launches new game for its strong performing Ying Cai Shen link

                  Trending Tags

                  • JAPAN
                    Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                    Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

                    Amax shareholders approve company name change, mobile games apps sale

                    Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                    Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                    Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                    Creation theory

                    Sega Sammy Creation aiming for “maximum fortune” in 2021

                    2021: Japan IR – Crunch time

                    Osaka IR bid included in ordinance for unified Osaka city/prefecture council

                    Boost for Osaka as MGM Resorts opts out of proposal to acquire UK online betting giant Entain PLC

                    Trending Tags

                    • REGIONAL
                      • All
                      • Africa
                      • Australia
                      • Cambodia
                      • China
                      • CNMI
                      • Europe
                      • Hong Kong
                      • India
                      • Japan
                      • Laos
                      • Latin America
                      • Macau
                      • Malaysia
                      • Nepal
                      • New Zealand
                      • North America
                      • North Korea
                      • Philippines
                      • Russia
                      • Singapore
                      • South Korea
                      • Sri Lanka
                      • Thailand
                      • Vietnam
                      The profound impact of Sheldon Adelson

                      The profound impact of Sheldon Adelson

                      Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                      Imperial Pacific taps former Saipan senator to become new CEO

                      Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                      Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

                      Two Landing directors voted out, Chairman Yang sneaks back in

                      Jeju authorities track down first accomplice in Landing International theft case

                      Amax shareholders approve company name change, mobile games apps sale

                      Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                      Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                      Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                      Trending Tags

                      • POWER 50
                        Power restored

                        Power restored

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Ones to watch

                        2020 Asian Gaming Power 50 list

                        2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                        2020 Asian Gaming Power 50: Number 1 – Francis Lui

                        2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                        2020 Asian Gaming Power 50: Number 2 – Sheldon Adelson

                        Trending Tags

                        • 中文
                        • 日本語
                        No Result
                        View All Result
                        IAG
                        • NEWS
                          The profound impact of Sheldon Adelson

                          The profound impact of Sheldon Adelson

                          Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                          Imperial Pacific taps former Saipan senator to become new CEO

                          Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                          Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

                          Two Landing directors voted out, Chairman Yang sneaks back in

                          Jeju authorities track down first accomplice in Landing International theft case

                          Amax shareholders approve company name change, mobile games apps sale

                          Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                          Trending Tags

                          • FEATURES
                            2021: Japan IR – Crunch time

                            2021: Japan IR – Crunch time

                            In safe hands

                            In safe hands

                            A spirit of social responsibility

                            A spirit of social responsibility

                            Taxation tremors

                            Taxation tremors

                            10 years ago

                            10 years ago

                            Creating an RG culture beyond the boardroom

                            Trending Tags

                            • PEOPLE
                              Dave Smith: Smell of success

                              Dave Smith: Smell of success

                              Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

                              Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

                              Creation theory

                              Creation theory

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Dark days

                              POST-COVID2: The most transformative business shock of our lifetimes

                              Dominic Laubach: Global explorer

                              Dominic Laubach: Global explorer

                              Trending Tags

                              • COLUMNISTS
                                Memories of the man that was Sheldon Adelson

                                Memories of the man that was Sheldon Adelson

                                Big money

                                A decade of differentiation

                                A decade of differentiation

                                How to set up for IR success

                                How to set up for IR success

                                Macau: Taking a sensible approach to responsible gaming

                                Macau: Taking a sensible approach to responsible gaming

                                Time to realign?

                                Time to realign?

                                Trending Tags

                                • TECH TALK
                                  Creation theory

                                  Sega Sammy Creation aiming for “maximum fortune” in 2021

                                  IGT launches new game for its strong performing Ying Cai Shen link

                                  IGT launches new game for its strong performing Ying Cai Shen link

                                  Jumbo given GLI certification for new Long Yi Fa jackpot link games

                                  Jumbo given GLI certification for new Long Yi Fa jackpot link games

                                  Aruze Gaming launches two new pachinko-inspired slot titles into Asia

                                  Aruze Gaming launches two new pachinko-inspired slot titles into Asia

                                  First-class showcase in the virtual space

                                  First-class showcase in the virtual space

                                  Badge of honor

                                  Badge of honor

                                  Trending Tags

                                  • iGAMING
                                    Live-games integration as an effective marketing tool for increasing bets

                                    TVBET to enter the Montenegro iGaming market

                                    Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

                                    Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

                                    PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

                                    Philippines court order preventing new 5% franchise tax could halt POGO exodus

                                    MGM Resorts looking to raise US$750 million via senior notes offering

                                    MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

                                    Evolution launches world’s first online live Craps game

                                    Evolution launches world’s first online live Craps game

                                    Duterte extends “modified” quarantine measures across Metro Manila to 31 May

                                    PAGCOR sees regulatory fees from POGOs halved as Philippines online gaming industry shrinks

                                    Trending Tags

                                    • EVENTS
                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Castle in the Sky

                                      Osaka IR & Inbound Business Seminar canceled due to COVID-19

                                      SBC launches new SBC Digital 2021 events program

                                      SBC launches new SBC Digital 2021 events program

                                      IAG named Lead Media Partner for Phil-Asian Gaming Expo (PAGE)

                                      Phil-Asian Gaming Expo says Manila’s SMX Convention Centre to be sole venue for PAGE 2021

                                      IAG spreads Christmas cheer at Macau After Dark 7

                                      IAG spreads Christmas cheer at Macau After Dark 7

                                      IAG releases 7-minute long-format post-event highlights video from 2020 Asian Gaming Power 50 Black Tie Gala Dinner

                                      IAG releases 7-minute long-format post-event highlights video from 2020 Asian Gaming Power 50 Black Tie Gala Dinner

                                      Trending Tags

                                      • MACAU
                                        The profound impact of Sheldon Adelson

                                        The profound impact of Sheldon Adelson

                                        Macau: Taking a sensible approach to responsible gaming

                                        Galaxy announces one-off Special Payment to eligible staff

                                        Creation theory

                                        Sega Sammy Creation aiming for “maximum fortune” in 2021

                                        Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                                        Macau visitor numbers increase for seventh straight month in December, 2020 total down 85% year-on-year

                                        Analysts agree VIP sector woes to remain for years to come

                                        Analysts agree VIP sector woes to remain for years to come

                                        IGT launches new game for its strong performing Ying Cai Shen link

                                        IGT launches new game for its strong performing Ying Cai Shen link

                                        Trending Tags

                                        • JAPAN
                                          Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                                          Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

                                          Amax shareholders approve company name change, mobile games apps sale

                                          Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                          Creation theory

                                          Sega Sammy Creation aiming for “maximum fortune” in 2021

                                          2021: Japan IR – Crunch time

                                          Osaka IR bid included in ordinance for unified Osaka city/prefecture council

                                          Boost for Osaka as MGM Resorts opts out of proposal to acquire UK online betting giant Entain PLC

                                          Trending Tags

                                          • REGIONAL
                                            • All
                                            • Africa
                                            • Australia
                                            • Cambodia
                                            • China
                                            • CNMI
                                            • Europe
                                            • Hong Kong
                                            • India
                                            • Japan
                                            • Laos
                                            • Latin America
                                            • Macau
                                            • Malaysia
                                            • Nepal
                                            • New Zealand
                                            • North America
                                            • North Korea
                                            • Philippines
                                            • Russia
                                            • Singapore
                                            • South Korea
                                            • Sri Lanka
                                            • Thailand
                                            • Vietnam
                                            The profound impact of Sheldon Adelson

                                            The profound impact of Sheldon Adelson

                                            Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                                            Imperial Pacific taps former Saipan senator to become new CEO

                                            Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                                            Foreign visitor arrivals to Japan down 97.7%% year-on-year in December

                                            Two Landing directors voted out, Chairman Yang sneaks back in

                                            Jeju authorities track down first accomplice in Landing International theft case

                                            Amax shareholders approve company name change, mobile games apps sale

                                            Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                                            Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                            Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                            Trending Tags

                                            • POWER 50
                                              Power restored

                                              Power restored

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Ones to watch

                                              2020 Asian Gaming Power 50 list

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 1 – Francis Lui

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 2 – Sheldon Adelson

                                              Trending Tags

                                              • 中文
                                              • 日本語
                                              No Result
                                              View All Result
                                              IAG
                                              No Result
                                              View All Result

                                              2020: Japan IR decision time

                                              Part 3: Meet the (other) candidate operators

                                              Andrew W Scott by Andrew W Scott
                                              Tuesday 7 April 2020 at 18:56
                                              2020: Japan IR decision time
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                                              In the third and final part of our deep dive into the Japan IR licensing process, we examine the remaining 16 operator candidates – some big, some small, some highly experienced, some not, some cashed up, some less so – but all desperate to win the most coveted item on the planet for the world’s casino operators.

                                              * IAG examined the four operators in Tier 1 – MGM Resorts, Galaxy Entertainment Group, Las Vegas Sands and Genting Singapore – in part 2 of this series.

                                              RelatedPosts

                                              SunTrust becomes listed tourism business as Suncity releases first renderings of Manila hotel and casino project

                                              Suncity incorporates operating entity of US$700 million Manila hotel and casino development

                                              Wednesday 20 January 2021 at 18:23
                                              2021: Japan IR – Crunch time

                                              Wakayama confirms Suncity, Clairvest as only two bidders for IR development

                                              Tuesday 19 January 2021 at 06:05
                                              Junkets unmasked

                                              DICJ data highlights VIP woes as mass baccarat leads Macau’s 4Q20 recovery

                                              Monday 18 January 2021 at 04:04
                                              2021: Japan IR – Crunch time

                                              2021: Japan IR – Crunch time

                                              Thursday 14 January 2021 at 15:41
                                              Load More

                                              TIER 2: ALMOST FAMOUS

                                              Serious and major players not quite in the top echelon globally, but not far from it.

                                              WYNN

                                              Market cap US$14 billion
                                              Base Las Vegas
                                              Key properties • Wynn Las Vegas
                                              • Encore Boston Harbor
                                              • Wynn Macau (via listed subsidiary Wynn Macau)
                                              Prospective locations Yokohama, others unknown
                                              Key people • Matt Maddox (CEO)
                                              • Chris Gordon (President, Wynn Resorts Development Japan)

                                              PROS

                                              • Reputation for luxury
                                              • Has enjoyed success in key global markets of Las Vegas and Macau
                                              • Famous brand name

                                              CONS

                                              • Potential reputational damage from Steve Wynn scandal
                                              • Was previously linked with disgraced Japanese businessman Kazuo Okada
                                              Wynn Las Vegas

                                              It is perhaps a little unfair to bump Wynn down into the second tier as it could lay claim to being a gorilla, but maybe just a 500 pound one rather than the full 800 pounds. A darling brand name with a reputation for uber-luxuriousness with players, the Wynn brand has never quite held the same mystique for industry types, or indeed market cap for that matter. Founder Steve Wynn was always a 10 figures type of guy, whereas his counterparts in Tier 1 hit 11 figures. Wynn loves to tell the world it “invented the integrated resort”, but we’ve now entered the third decade of this century. The opening of the Mirage was a long time ago.

                                              Wynn Resorts Japan President Chris Gordon has his work cut out for him. To be successful he will need to do six things. First, prove the company has moved on from the scandals (plural) of the past and has genuinely turned over a new leaf. Second, demonstrate Wynn can construct something that isn’t a copy-pasted golden brown building with a curve for a roof line and a squiggly signature on top, with that same red floral carpet. Third, that Wynn can play nice in a Japanese consortium, possibly even with a minority interest. Fourth, that a very American company can delicately negotiate the nuances of Japanese business and government culture. Fifth, find the financing it will need for what will be a very capital intensive undertaking. And last of all, that he can build an authentic messaging and communications strategy to convey points one to five above – something that Wynn Resorts has struggled to do for decades.

                                              MELCO RESORTS & ENTERTAINMENT

                                              Market cap US$30 billion
                                              Base Hong Kong
                                              Key properties • City of Dreams Macau
                                              • Studio City
                                              • City of Dreams Manila
                                              Prospective locations Yokohama
                                              Key people • Lawrence Ho (Chairman and CEO)
                                              • Frederic Winckler (Executive VP and Chief Marketing and Brand Officer)
                                              • Pim Robberechts (President, Design –Japan)

                                              PROS

                                              • Was first to declare official “Yokohama First” policy
                                              • Operations in Macau, Philippines, Cyprus and Australia (via Crown Resorts)
                                              • Has listings on Hong Kong and US stock markets

                                              CONS

                                              • May be seen as a Chinese company
                                              • Perception of business ties to Dr Stanley Ho needs to be explained
                                              • Crown Resorts currently involved in suitability inquiry in Australia
                                              Melco Resorts & Entertainment’s flagship Macau IR, City of Dreams.

                                              If licenses were awarded purely for enthusiasm, Melco’s Chairman and CEO Lawrence Ho would already have it in the bag. Many of his speeches begin with something like, “This is my 500th trip to Japan, I first came here as a five-year-old, and I simply love Japan.” Ho is not being disingenuous – his adoration of the country is plain to see. He even installed Japanese style toilets in every guest room at Morpheus, the latest addition to Melco’s City of Dreams flagship IR in Macau.

                                              Now into his 40s, the fit and sprightly Ho still comes across as young and exuberant, but has matured greatly in recent years. He has taken Melco to new heights, firmly claimed the number 3 spot on the IAG Power 50 list since 2017, and consolidated his international credentials with expansions into the Philippines, Cyprus and Australia. He famously once said he would do “whatever it takes” to win a license in Japan, a statement he might now regret, as this was widely interpreted as Melco placing no limit on their potential capital investment. Ho has even vowed to headquarter Melco in Japan should it win a license.

                                              This following is meant in the most respectful of ways, but having the famous Dr Stanley Ho as a father is both a blessing and a curse, and the younger Ho will have to convince the powers that be in Japan there is no business connection, given decades old rumors which continue to circulate. This is unfair given that Dr Ho is 98 years old, widely known to be in poor health, and clearly has not had any influence over his son’s business for at least a decade, and possibly a good deal longer.

                                              One could never accuse Melco of not being prepared to take risks. They can dazzle an audience with their ideas or proposals, but they do sometimes find themselves being accused of favoring style over substance. To win in Japan, they will need both.

                                              SJM

                                              Market cap US$6.7 billion
                                              Base Hong Kong
                                              Key properties • Grand Lisboa
                                              • Grand Lisboa Palace (scheduled to open 2020)
                                              Prospective locations TBC
                                              Key people • Arnaldo Ho (Director and Assistant COO)

                                              PROS

                                              • Long-standing history of operating in Asia
                                              • Deep connection with Chinese players

                                              CONS

                                              • Arguably the world’s most “Chinese” casino operator
                                              • No global exposure outside of Macau
                                              SJM operates Macau’s unmistakable Grand Lisboa (left) and Lisboa (right)

                                              Were SJM not to make a bid for Japan, they would be the only of Macau’s six concessionaires to elect not to do so. So it seems almost mandatory for the company co-founded by none other than Dr Stanley Ho himself to throw their hat in the ring. SJM’s bid is being spearheaded by Director and Assistant COO Arnaldo Ho, the late 20s son of Co-Chairman and Executive Director Angela Leong.

                                              Working against (and arguably for) SJM are their extremely deep Chinese ties – Dr Ho held the gaming monopoly in Macau from 1960 to 2000 (effectively 2004). Also working against them is the widely held belief they were pursuing a property in Hokkaido, a location which has publicly announced it is no longer pursuing a bid.

                                              BLOOMBERRY

                                              Market cap US$1.9 billion (plus significant other related assets)
                                              Base Manila, Philippines
                                              Key properties Solaire Resort & Casino
                                              Prospective locations Wakayama
                                              Key people • Enrique K Razon Jr (Chairman and CEO)
                                              • Tom Arasi (COO)
                                              • Mitsuaki Kiriyama (Vice President, Bloomberry Resorts Japan)

                                              PROS

                                              • Operates Philippines IR market leader Solaire Resort & Casino
                                              • Chairman and CEO Enrique K Razon Jr has strong global business ties

                                              CONS

                                              • Only casino outside Philippines, located in South Korea, is not profitable
                                              • Currently focused on second Manila casino, cruise port developments

                                              The Philippines IR market has grown stupendously over the last five years, and now rivals that of Singapore for the title of Asia’s second largest gaming market (a title which in due course should be lost to Japan). Solaire is the undisputed leader of the pack at Manila’s Entertainment City – at least it is for now until Okada Manila, which is still ramping up, comes knocking.

                                              Solaire’s Chairman and CEO, Enrique Razon Jr, is no stranger to international investment. Named the fourth richest person in the Philippines in 2019, Razon controls a string of ports around the world, as well as interests in mining, electricity, oil and gas. In January he told IAG his interest in a Japan IR only extends to a regional IR “in the US$3 billion to US$4 billion range”. Solaire is widely known to be interested in Wakayama as a potential location.

                                              SUNCITY

                                              Market cap US$1.3 billion (plus significant other related assets)
                                              Base Macau, operates Asia-wide
                                              Key properties • Hoiana, Vietnam (scheduled to open 2021)
                                              • Tigre de Cristal, Vladivostok, Russia
                                              • Westside City Resorts World, Manila (scheduled to open 4Q22)
                                              Prospective locations Wakayama
                                              Key people • Alvin Chau (Chairman and CEO)
                                              • Andrew Lo (Executive Director)

                                              PROS

                                              • Strong cash reserves
                                              • Access to huge VIP database
                                              • Provider of luxury services

                                              CONS

                                              • Very much a Chinese company
                                              • History as a junket operator may cause issues with Japan authorities
                                              Suncity Group will open the US$1 billion first phase of Vietnam integrated resort Hoiana in 2021.

                                              VIP Gaming Promoters (often referred to as “junkets”) have been the lifeblood of Macau and much of the gaming industry across Asia – providing the lion’s share of Macau’s mind-blowing gaming revenues each year. Once representing as much as 75% of Macau gaming revenue, this proportion was down to around 50% in 2019 as the mass market continued to grow, but that 50% still represented nearly US$20 billion in gaming revenue.

                                              The undisputed king of all VIP Gaming Promoters in Asia is Suncity. The company is so ubiquitous, it operates VIP rooms in all of Macau’s major IRs across all six Macau concessionaires, as well as bringing action to the Philippines and elsewhere across the continent. Suncity is so dominant it controls over 45% of the VIP market – almost as much as every other VIP promoter combined.

                                              The ironic thing is that it has become clear in recent years that Suncity’s Chairman and CEO Alvin Chau would love nothing more than to change hats and become an IR operator. He has made strides to do so in numerous ways, such as developing the Hoiana IR in Vietnam, which will see some facilities ready this year, and taking control of Tigre de Cristal in Vladivostok, both under Hong Kong-listed Suncity Group Holdings Limited (HKEx: 1383). Suncity Group Holdings Limited has also become partners with Korean operator Paradise in Busan and most notably signed agreements to develop and operate the casino and hotel at Manila’s Westside City Resorts World in Manila, currently scheduled to open at Entertainment City in late 2022.

                                              Suncity will be looking to promote the diversification of its business arms as a major advantage in fulfilling the government’s goal of driving more tourism to Japan. Via Sun Entertainment Culture Limited the company produces and distributes TV and film productions as well as organizing live concerts.

                                              Through Sun Food and Beverage it owns and operates multiple restaurants in Macau and mainland China, and is an “Executive Member of the Council of the Chengdu City of Gastronomy Association.”

                                              The listed group even boasts a travel arm, Sun Travel, organizing high-end tourism services from transport and accommodation to cultural and entertainment experiences.

                                              An IR in Wakayama would be more than icing on the cake for Chau, it would be a whole new cake. Suncity has incorporated Suncity Group Holdings Japan Limited through which to pursue its Japan ambitions, revealing a tentative budget of between HK$30 billion and HK$35 billion (US$3.8 billion to US$4.5 billion) for an IR in Wakayama.

                                              Suncity finds itself in a three-way tussle with Bloomberry (see previous entry) and Barrière (see below) for the right to partner with Wakayama in an IR bid.

                                              TIER 3: PUNCHING ABOVE THEIR WEIGHT

                                              Smaller but established gaming companies that would have to raise themselves to the next level to build a multi-billion US dollar IR in Japan.

                                              HARD ROCK

                                              Base Florida, USA
                                              Key properties • Seminole Hard Rock Hotel & Casino Hollywood
                                              • Hard Rock Hotel & Casino Atlantic City
                                              Prospective locations Hokkaido
                                              Key people • Ed Tracy (CEO, Asia)
                                              • Ado Machida (President, Hard Rock Japan)

                                              PROS

                                              • Globally recognized brand name
                                              • Highly respected Japan CEO Ed Tracy has decades of global experience including a stint in Macau as CEO of Sands China Ltd

                                              CONS

                                              • Target destination of Hokkaido has withdrawn from Japan’s IR race
                                              Famous US brand Hard Rock International hasn’t given up on its dream of developing an integrated resort in Hokkaido.

                                              The gaming part of the Hard Rock empire has been keen to expand beyond the US for years. Hard Rock significantly boosted their international credentials in 2017 when they hired the much-admired former CEO of Sands China, Ed Tracy, as CEO of their Japan entity, Hard Rock Japan, and charged him with responsibility for exploring possible global expansion.

                                              Hard Rock had declared its interest in bidding for a Japanese IR in Hokkaido, even going so far as to open an office in Tomakomai, Hokkaido.

                                              Despite Hokkaido Governor Naomichi Suzuki in November last year officially announcing the prefecture’s withdrawal from the race, a Hokkaido-based IR remains a popular concept with local business groups. Rumors of a resurrection of the bid persist, so it might not be time to run a line through Hard Rock’s name just yet. In December Hard Rock Japan President Ado Machida confirmed Hard Rock remained an official partner of the Hokkaido Consadole Sapporo soccer team and would continue their sponsorship of the Sapporo Snow Festival. He also told IAG, “We will continue our efforts for a future IR bid in Hokkaido.”

                                              MOHEGAN GAMING & ENTERTAINMENT

                                              Base Montville, Connecticut, USA
                                              Key properties • Mohegan Sun, Connecticut
                                              • Resorts Casino Hotel, Atlantic City
                                              Prospective locations Hokkaido
                                              Key people • Mario Kontomerkos (CEO)
                                              • Christopher Jones (VP Corporate Finance)

                                              PROS

                                              • Operates Mohegan Sun, one of the USA’s largest tribal casino resorts
                                              • Strong history of operating in regional locations

                                              CONS

                                              • Target destination of Hokkaido has withdrawn from Japan’s IR race
                                              • All current casino operations are located within the US
                                              Mohegan Gaming & Entertainment CEO Mario Kontomerkos.

                                              Currently developing the Inspire IR (scheduled to open 2022) in Korea’s Incheon region in partnership with Korea’s Hanwha Corporation, tribal gaming operator Mohegan Gaming & Entertainment had declared its interest in bidding for a Japanese IR in Hokkaido. Just like Hard Rock, their rivals in the Hokkaido bid, they opened an office in Tomakomai, Hokkaido. In December Mohegan said it was “evaluating its options in Japan.”

                                              NAGACORP

                                              Market cap US$6.1 billion
                                              Base Phnom Penh, Cambodia
                                              Key properties NagaWorld
                                              Prospective locations Nagasaki
                                              Key people • Dr Chen Lip Keong (Founder and CEO)
                                              • Tim McNally (Chairman)

                                              PROS

                                              • Operates hugely successful NagaWorld IR in Cambodia
                                              • Strong cash position
                                              • Developing second casino in Vladivistok, Russia

                                              CONS

                                              • Yet to prove bona fides outside of Cambodia

                                              Listed in Hong Kong, Nagacorp owns and operates the fantastically successful NagaWorld, Phnom Penh’s monopoly casino operator. Taking advantage of low tax rates, a favorable regulatory regime and a surfeit of players from mainland China, founder Dr Chen has parlayed what was originally a small riverboat operation into an operation booking around half a billion US dollars EBITDA annually.

                                              SEGA SAMMY

                                              Market cap US$3.5 billion
                                              Base Tokyo, Japan
                                              Key properties Yokohama
                                              Prospective locations Wakayama
                                              Key people • Hajime Satomi (Chairman and Group CEO)
                                              • Haruki Satomi (President and Group COO)

                                              PROS

                                              • Only Japanese company leading an IR bid
                                              • Deep experience in Japan gaming market

                                              CONS

                                              • Primarily experienced in pachinko
                                              • Minimal experience operating large-scale IR
                                              Paradise City in Incheon is a joint venture between Sega Sammy and South Korea’s Paradise Co.

                                              To claim Sega Sammy is an IR operator is a stretch, with them being the smaller partner in the 45-55 partnership with Korea’s Paradise Co in Korean integrated resort Paradise City. Secondly, it is Paradise Co, not Sega Sammy, that is conducting day to day operations at Paradise City. It also doesn’t help that the property has endured a slow, albeit accelerating, ramp-up that has seen it only occasionally cross into profitability.

                                              But all those “cons” might be wiped out with one significant “pro”: Sega Sammy is a Japanese company. In fact, it is the only Japanese company that can lay any claim, stretch or not, to being an IR operator (we’re ignoring the exceptional case of Okada for the purposes of this discussion).

                                              At the Yokohama IR industry event in late January this year, Sega Sammy’s stand featured renowned local chefs, and created a buzz amongst Japanese attendees in a way their foreign counterparts could not replicate.

                                              TIER 4: IT’S LIFE JIM, BUT NOT AS WE KNOW IT

                                              Companies that, while possibly quite established in their far away home lands, for one reason or another could be said to have no place bidding for a say US$3 billion dollar IR in Japan.

                                              GROUPE BARRIÈRE

                                              Base Paris, France
                                              Key properties 33 casinos in France, 3 in Switzerland and one in Cairo, Egypt.
                                              Prospective locations Wakayama
                                              Key people • Dominique Desseigne (Chairman and CEO)
                                              • Jonathan Strock (Groupe Barrière Casino Development Director)

                                              PROS

                                              • Long standing history of operating in European holiday markets
                                              • Has stated willingness to be minority partner in Japan IR

                                              CONS

                                              • Lack of experience in Asia
                                              • Lack of experience in operating IRs of this scale

                                              Groupe Barrière opened an office in Wakayama in May last year, and has expressed comfort with being a minority partner in a property with around a US$2.5 billion investment.

                                              RUSH STREET

                                              Base Chicago, USA
                                              Key properties • Rivers Casino Des Plaines
                                              • Rivers Casino Pittsburgh
                                              • Rivers Casino Philadelphia
                                              • Rivers Casino Schenectady
                                              Prospective locations Hokkaido
                                              Key people • Neil Bluhm (Chairman)
                                              • Greg Carlin (CEO)
                                              • Tim Drehkoff (CFO)

                                              PROS

                                              • Strong history of operating in regional locations

                                              CONS

                                              • Target destination of Hokkaido has withdrawn from Japan’s IR race
                                              • All current casino operations are located within the US

                                              Rush Street is primarily a real estate development company which got involved in regional casinos in the US around 20 years ago. They’ve expressed interest in a US$2 billion investment in Hokkaido, and mentioned they would be comfortable taking on local partners.

                                              CASINOS AUSTRIA

                                              Market cap US$530 million
                                              Base Vienna, Austria
                                              Key properties • Grand Casino Brussels
                                              • Casino Copenhagen
                                              • Casino St Moritz, Switzerland
                                              Prospective locations Nagasaki
                                              Key people • Christoph Zurucker-Burda (CEO)
                                              • Akio Hayashi (Managing Director Japan)

                                              PROS

                                              • Extensive network of casinos throughout Europe, plus Egypt and Australia

                                              CONS

                                              • Lack of experience in Asia

                                              Casinos Austria announced its interest in bidding for a property in Nagasaki in June last year. The company is 34% owned by the Austrian government. In October, CEO Christoph Zurucker-Burda announced the company would be submitting a business concept for an integrated resort in Nagasaki ahead of the prefecture’s RFC launch on 1 November 2019.

                                              PEERMONT GLOBAL

                                              Base Johannesburg, South Africa
                                              Key properties Emperors Palace, Johannesburg
                                              Prospective locations Nagasaki
                                              Key people Nigel Atherton (Group CEO)

                                              PROS

                                              • One of South Africa’s largest casino operators, with 10 properties

                                              CONS

                                              • Lack of Asian experience

                                              Peermont has been singularly focused on the Huis Ten Bosch site in Nagasaki for several years.

                                              GET NICE

                                              Market cap US$225 million
                                              Base Hong Kong
                                              Key properties Grand Waldo, Macau (sold to Galaxy in 2013)
                                              Prospective locations Shizuoka, Nagasaki
                                              Key people Hung Hon Man (Chairman and CEO)

                                              PROS

                                              • Previously operated casino in Macau
                                              • Has announced partnership with Japan’s Shotoku Rinaldo Corp

                                              CONS

                                              • One target city, Makinorhara, has withdrawn from IR race
                                              • Not currently operating any casinos
                                              Dutch-inspired theme park Huis Ten Bosch has been identified as the preferred location for a Nagasaki IR.

                                              Get Nice, which is listed on the Hong Kong stock exchange, were formerly so-called “Party B” revenue share participants with Galaxy Entertainment Group in the Grand Waldo casino in Macau, a property which was eventually sold to Galaxy and transformed into Broadway, contiguous to the wider Galaxy Macau IR. Previously interested in Shizuoka, Get Nice has also expressed interest in Nagasaki.

                                              TIER 5: OPERATORS? REALLY?

                                              Companies that don’t really seem to fit.

                                              CLAIRVEST GROUP

                                              Market cap US$798 million
                                              Base Ontario, Canada
                                              Key properties Nil
                                              Prospective locations Hokkaido
                                              Key people Ken Rotman (CEO)

                                              PROS

                                              • Seeking entry as an investor, rather than an operator

                                              CONS

                                              • Target destination of Hokkaido has withdrawn from Japan’s IR race
                                              • Has hinted at maximum investment potential of under US$700 million
                                              The city of Toronto in Ontario, Canada.

                                              Clairvest made an early splash, getting its name out there in the same places operators were. However with the demise of Hokkaido, and an investment budget mooted to be well south of US$1 billion, it’s unclear whether Clairvest can carve out a position for itself in the Japanese IR industry.

                                              CURRENT

                                              Base Nagasaki, Japan
                                              Key properties Nil
                                              Prospective locations Nagasaki
                                              Key people Tamotsu Suzuki (Representative Director)

                                              PROS

                                              • Local Japanese firm from Nagasaki
                                              • Has proposed total investment budget of JPY550 billion (US$5 billion)

                                              CONS

                                              • No direct casino or IR experience
                                              Nagasaki

                                              We’re not quite sure where Current fits in yet. Clearly interested in Nagasaki, and having the advantage of being a local Nagasaki company, they are said to have links both to Get Nice (see earlier entry) and Macau’s Sofitel Hotel at Ponte 16. Current has opened an office in Sasebo to pursue IR development at Huis Ten Bosch in Nagasaki.

                                              Tags: BloomberryCasinos AustriaClairvestCurrentCurrent IssueGet Nice HoldingsGroupe BarrièreHard RockMelco Resorts & EntertainmentMohegan Gaming and EntertainmentnagacorpPeermont GlobalRush StreetSega SammySJMSuncity GroupWynn
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                                              Andrew W Scott

                                              Andrew W Scott

                                              Born in Australia, Andrew is a gaming industry expert and media publisher, commentator and journalist who moved to Hong Kong in 2005 and then Macau in 2009, when he founded O MEDIA, one of Macau’s largest media companies and parent company of Inside Asian Gaming.

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