Japan has officially passed a new law that outlines the legalization of casino resorts in the country, which has opened the opportunity to create three new Japanese resorts with casinos. It’s expected for Japanese companies and local municipalities to begin discussions, proposals, and other projects regarding this new attraction. Foreign operators from iconic gambling cities like Las Vegas have already shown interest in expanding their talents to Japan and will start the process of finding partners to join the new gaming market.
Developers have already started talking about the ideal cities to build, which are typically larger with easy forms of transportation. However, it does appear many are open to different possibilities across Japan. In addition to deliberating over locations, leading businesses who will benefit from this new law have started to strategize in other ways. HIS Co., a travel agency, has been working diligently to find an operator to create a casino as a part of the Huis Ten Bosch theme park in Nagasaki. Construction mongul, Obayashi Corp, has formed a project team to aid in building a casino resort in or around Osaka. There have also been transitions from other businesses from other industries such as financial groups, gaming machine suppliers, security solutions, electronics, and more.
Legalization of casino gambling could greatly benefit the timeshare resort industry and ultimately increase Japan tourism with an anticipated $25 billion income to the country. Not only will lodging continue to expand, but the legalization will also bring business and job opportunities to other industries, such as transportation, dining, and local attractions. Executives at Western corporations such as Las Vegas Sand Corps and MGM Resorts International, who have experienced these advantages first-hand, have stated they are willing to spend up to $10 billion to build a casino resort.
To gain a better understanding of the potential growth a casino resort can offer, take into consideration one of the largest gambling cities in the world: Las Vegas. Gambling tourism in this city is the main reason for its success. According to the Las Vegas Convention and Visitors Authority (LVCVA), the city had over 42.2 million visitors in 2017. Of these visitors, around 74% said they gambled during their trip, with the average gambling budget being $541.18. This resulted in a gaming venue of $6.5 billion for the city, which adds to the other $11.3 billion in revenue from lodging, food, and beverages. Gambling has made Las Vegas one of the top vacation destinations in the world, which has in-turn improved other tourism activities and has created the perfect place for timeshare resorts to place their roots.
It will be interesting to see how vacation ownership shapes up in these areas over the next few years and how the development of Japanese resorts will change. Though the success of these casinos can vary from country to country and state to state, it has a lot of promise for the economy, tourism, and the future of timeshares.
To learn more about Japan resort timeshare resales or rentals for your future vacations, SellMyTimeshareNow would love to help. We are updated on all the latest timeshare news and would love to help you navigate the buying or renting process. Please fill out our form or give our experts a call today at (877) 815-4227.