Good morning. The local Japanese customer will be an important market for integrated resorts in Japan, though anti-casino sentiment amongst groups of the public could make this task more difficult than it has been in other markets. In today’s Deep Dive, we speak to three Japan IR industry observers, who share their thoughts on what it may take for IRs to woo the domestic Japanese patron.
What you need to know
- Crown Resorts‘ shares surged 16.5 percent following a sweetened takeover from Blackstone Group, but the stock failed to reach the offer price given the regulatory uncertainty.
- The Philippines will open its doors to fully vaccinated travellers from “green list” countries once the country’s Inter Agency Task Force issues guidelines, potentially by the end of this month.
- J.P Morgan analysts have forecasted Macau 2022 GGR to reach just over 50 percent of 2019, or around $18 billion, driven by a 70 percent recovery in mass and a 24 percent recovery in VIP.
- Gopher Investments on Friday announced it has pulled out of the takeover battle for UK-based Playtech Plc.
On the radar
- Macau 3Q GDP up 32.9% year-on-year on rebound in visitor arrivals
- Jeju Dream Tower posts 3Q21 KRW12.3 billion in casino sales
- Julian Cook is set to be appointed as SkyCity chairman from Jan 1, 2022
- Phu Quoc welcomed back its first batch of tourists on Saturday.
What the papers say
- Western Australia has highest level of gamblers, fewest problems, due to lower pokies
Japan’s future integrated resorts need to have a well-thought-out plan to win over the Japanese domestic market, which will be challenging due to the country’s vocal anti-casino contingent, experts say. In terms of footfall, domestic customers will be the highest and will typically spend in aggregate more than international visitors in non-gaming areas, adding that he expects the domestic market in Japan to drive between 20-40 percent of total turnover, with a little less than a third of this to come from non-gaming.
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