Inside Asian Gaming

IAG NOV 2020年11月 亞博匯 131 專欄 it could have been a builder with major commercial development experience) protected the state’s interest by monitoring progress. The purpose was to ensure that the standards, timelines and milestones promised in the agreements were met. In this way, Victoria achieved the outcome it desired from the outset – a world class, international standard IR with multiple non- gaming offers such as conference and banquet facilities, hotel accommodation pitched at three different markets, nightclubs, cinemas, and food and beverage outlets ranging from fine dining to food courts. The success of Victoria’s IR development was defined by the outcome rather than any specified inputs or outputs. Certainly, the successful bidder spent significantly in building its IR complex, but it was its choice to do so by promising to deliver an outcome which met the expectations of Victoria. JAPANESE ASSESSMENT There are lessons here for jurisdictions still contemplating the best way forward, such as Japan, who are now embarking upon an IR implementation process of their own. Some potential bidders have committed publicly to spending upwards of US$10 billion in developing an IR in Japan. Similarly, some Prefectures, perhaps ostensibly to swing public or political support their way, have indicated their support for this level of financial commitment. However, such promises should be seen to be input measures of limited usefulness for any long- term, practical or sustainable assessment. Does a US$10 billion outlay indicate anything about the impacts on visitation, the quality of the construction, the utility or suitability of any of the proposed non- gaming offers or the number of jobs to be created by the development? The answer is no! Nevertheless, on paper Japan is heading in