Experts: Japan Gaming Won't Affect Singapore's Resorts

As reported by the Channel News Asia: "Three gaming licences could be awarded in Japan in 2009, with the projects expected to be completed around 2012, according to some market watchers.

"But while that will add to the growth of the industry in Asia, they say the emergence of the gaming sector in Japan is not likely have a major impact on Singapore's integrated resorts.

"…Said Sean Monaghan, vice president of equity research at Merrill Lynch (Singapore), 'In 2008, the government is likely to pass the legislation. So you probably have tendering in 2009 and the award of around three casino licenses, probably one in Tokyo, one in Okinawa and one in another major city on the main island - so three major casino licenses. Obviously if you have a tender, you will have global focus on it, massive bidding and probably at least US$10 billion investments for those three casino properties.'…"

2006-08-25