Mark Frissora, the President & CEO of Caesars Entertainment, continues his quest to win a Japanese ‘integrated resorts’ licence, a key initiative for expanding Caesars footprint beyond US shores.
Last week, Frissora and Caesars senior executive team visited Japan, to gain cultural learnings, in a market that has been branded Asian gambling’s next ‘holy grail’.
During the visit, Caesars announced a $250,000 contribution to Japanese responsible gambling initiatives, with the US gambling operator further stating that it wanted to ‘extend its community engagement’.
Entering 2017, Frissora has made no secret that Japan is Caesars top destination, as its ambitious leader seeks to redevelop Caesars Entertainment aa global gambling enterprise.
Last January, Frissora announced that Caesars had formed a strategic committee of International trade/relations heavyweights.
Advising Caesars governance on its Japanese mission, are former US Senate Majority Leader Tom Daschle, former US Trade Representative Charlene Barshefsky, and multi-national trade strategy expert Kara Bue of Armitage International.
At present, Japan’s Shinzo Abe government is slowly drafting its new ‘Integrated Resorts Bill’, which will allow Japan’s first casinos to be operated in ‘selected large-scale’ leisure complexes, catering for hotels, gaming and retail spaces.
The Integrated Resorts Bill has been fully sanctioned by Japan’s DIET legislature, however, as yet no information has been disclosed with regards to casino complex tax charges and discussion remains on the number of licenses that the Abe government will grant.
All major US gambling enterprises have publically detailed that they will compete for Japan Resorts licence. Speaking in 2017, casino mogul Sheldon Adelson the owner of the Las Vegas Sands Corporation stated that he was prepared to invest $10 billion in building a Japanese complex.
Gambling’s major players are monitoring Japan movements. Asian tycoon Lawrence Ho Chairman of Melco Crown stated to Reuters that he was prepared to shift Melco’s entire Asian operations to Tokyo should his firm secure a licence.
Japan’s integrated resorts tender, will likely become global gambling’s Willy Wonka Golden Ticket competition. Industry stakeholders should expect fun and lots of frolics.