Inside Asian Gaming

IAG FEB 2021年2月 亞博匯 56 JAPAN are vastly different. The Tokyo metro region is the world’s biggest metropolitan agglomeration, with 38 million people. But regional locations Nagasaki and Wakayama, with local populations of less than half a million, have exactly the same IR requirements. This false equivalency does not make commercial sense. Think also about access dynamics – announced candidate locations Osaka and Yokohama (and potential locations Tokyo, Chiba and Aichi) have international airports very close by, whereas regional locations Nagasaki and Wakayama have significant access issues. CONSORTIA It was every man for himself in the early stages of the Japan IR process, but lately, some of the interested companies have been joining forces in consortia. This makes sense for three reasons. Firstly, doing business as a consortium is verymuch the done thing in Japan, especially for major projects. Whether you call them cartels, groups, consortia or the Japanese terms keiretsu or teikei , it’s long been common business practice for Japanese companies to operate as groups, with each company in the group having shareholdings in some or all of the others, and the group using common financing and even collective decision-making. Secondly, the investment amounts are staggering. The US$10 billion figure (or even more) has been casually thrown around for major metropolitan IRs, Japan’s Sega Sammy Holdings has a 45% stake in Paradise City, an integrated resort located in Incheon, South Korea. 日本世嘉颯美持有位於韓國仁川的百樂達斯綜合度假村45％的股份。