Casino operators across Asia are rethinking their business models and that has ramifications for both Singapore and Japan where development is expected as a new industry normal evolves, according to a senior vice president with Hard Rock International.
In an Op Ed piece written for The Strait Times Daniel Cheng said the casino industry in Asia is “long due for a makeover after a false start 10 years ago.”
He expects Japanese lawmakers to learn from what they have seen as the Macau industry hurridly is busy rewriting business plans that reflect changing government expectations.
“Japan can count itself lucky that the Diet (legislature) did not pass its casino legislation when it was first tabled in 2014,” Cheng said. The delay “has proven to be a blessing in disguise, allowing Japan to be a bystander to the industry’s turbulence of the last 24 months.”
Cheng said the new direction for the industry “may tip the scales” for gaming legislation to be debated in the Japan Diet later this year, and perhaps finally be passed early next year. Japan lawmakers can reformulate their draft gaming legislation to address market dynamics and be at the “vanguard of a new dawn for a more benign Asian casino industry.”
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: [email protected].