In Japan, the boss for pachinko giant Sega Sammy Holdings Incorporated has reportedly reiterated his company’s desire to open an integrated casino resort in its home nation but stated that the firm intends to wait until the government passes enabling legislation before preparing ‘concrete plans’.
According to a report from GGRAsia, the revelation came from Hajime Satomi, Chairman and Chief Executive Officer for Sega Sammy Holdings Incorporated, as part of the firm’s recently-published Integrated Report 2017. He purportedly also declared that the Tokyo-based company’s plans for its future integrated casino resort are still at the ‘prior investment stage’ but that he hopes to turn any such an enterprise into a ‘driver of long-term growth’.
“We expect integrated resorts in Japan to become a mainstay of this business segment,” reportedly wrote Satomi.
Although most casino gambling is currently illegal in Japan, legislators ratified enabling legislation in December that could see that Asian nation license up to four integrated casino resorts. Officials are currently in the process of establishing specific guidelines and rules for the coming Western-style projects, which are to additionally contain hotels, shops and conference spaces. GGRAsia reported that the consequent Integrated Resort Implementation Bill could be put to a vote as early as late-2018.
“If an Integrated Resort Implementation Bill is enacted, the government will advance to the stage of area and operator selection [and] we will then be able to prepare concrete plans,” reportedly wrote Satomi.
Sega Sammy Holdings Incorporated partnered with Seoul-listed Paradise Company Limited to open the $1.7 billion Paradise City integrated casino resort near Incheon in July and Satomi reportedly moreover explained that his company will use the South Korean venue as well as its ‘track record and accumulated expertise’ in order to win one of the coming Japanese integrated casino resort franchises.
“I view advancement of the integrated resort business as an important personal mission and will work tirelessly to achieve it,” reportedly wrote Satomi.
GGRAsia reported that Sega Sammy Holdings Incorporated holds a 45% stake in Paradise City while Satomi purportedly disclosed that his firm would now ‘flexibly relocate personnel to other fields’ such as those at the South Korea property in order to ‘accumulate insight pertaining to new businesses’.
“The group is accumulating expertise in the development and administration of integrated resorts through Phoenix Seagaia Resort and a joint venture in South Korea with Paradise [Company Limited],” reportedly wrote Satomi.