23 July 2018
The Integrated Resort Act of Japan (IR Act) - which legalises casino gambling in designated integrated resort areas (IR Areas) - was passed by the Diet on 20 July 2018. The IR Act will present great opportunities for developers, operators, hoteliers and financiers, among others, as well as the wider Japanese economy. Market participants should note however that the IR Act only provides a framework and not all of the specifics for operating an integrated resort in Japan. These matters will be dealt with in detailed regulations to be published by the central government (including through the Casino Management Committee) and as part of the bidding procedures to be determined by local governments.