Inside Asian Gaming

IAG JAN 2022年1月 亞博匯 23 Just about every major IR company in the world has abandoned what used to be called “The Japan Opportunity” and might now be called “The Japan Folly.” 幾乎全球所有主要的IR 公司都放棄了現在可 能已經淪為「日本誤會」的曾經備受追捧的 「日本機會」。 封面故事 cultural mix of the ancient and historic with the modern and technological. Despite the most expensive IR anywhere in the world thus far costing around US$4 billion or US$5 billion, suddenly investment amounts of US$10 billion or even more were bandied about. Even IAG took the plunge and launched its IAG Japan brand in January 2019, adding Japanese to our language portfolio, staffing a dedicated Japanese office and signing a strategic partnership with a long-established Japanese B2B hospitality industry media company. Yours truly travelled to Japan monthly throughout 2018 and 2019. In 2019 IAG Japan covered no less than a dozen potential IR locations across the length and breadth of the country – from as far west as Nagasaki right up to Hokkaido in the very north. We also covered around 20 potential operators bidding for up to three licenses including all the industry tier-one names: Caesars, Galaxy, Genting, Melco, MGM, Sands and Wynn – as well as a gaggle of other contenders such as Japanese company Sega Sammy, Philippines IR operator Solaire, 一個具有預見性的警告 2019年，在一片樂觀情緒的氣氛 中，我訪問了一個擁有40多年業界經驗 的高管對於日本的看法。考慮到眾人的 歡欣雀躍，我期待著一個熱情的回覆。 怎麼可能出問題？ 他看著我，就像一個經驗豐富、頭 腦冷靜的祖父看著一個精力充沛的年輕 人一樣，睿智地說：「我從未能成功地 在日本做生意、或者與日本人做生意。 通常，無論你做得任何交易都會落空， 而當其沒有落空時你會希望它落空。一 開始看起來總是很美好，但當塵埃落定 Macau-based SJM and Suncity, tribal gaming operators Hard Rock andMohegan Sun andmany more from across the globe. A PROPHETIC WARNING Amongst all this optimism, in 2019 I asked a respected executive with over 40 years of industry experience his thoughts about Japan. I anticipated an enthusiastic response, given all the excitement. What could possibly go wrong? He looked at me much as an experienced and level-headed grandfather might look upon an exuberant youngster, and