Casino Resort out of Tokyo plans
A casino resort in Tokyo is looking less likely before the 2020 Olympics games takes place in the city, with rising building costs and a city council that does not now see the development of a casino resort as a priority while they are trying to organise and build for the Olympic Games.
Although Prime Minister Shinzo Abe is pushing along with legalising gambling in the country and a vote in the lower house of parliament is expected in the autumn of this year, Tokyo has downgraded its team to review and develop the casino resort proposals, meaning it is no longer a major concern or interest to the city.
This will come as a major blow to Las Vegas Sands who promised to spend $10 billion or whatever it takes to get the resort license on Tokyo. Should the city not now build a casino resort before 2020 the chances of casino operators looking to get involved after that date would be unlikely.
There are other cities in Japan who are still looking to build casino resorts like Osaka, but Tokyo was always the main city for revenues given the huge scale of the Olympics in 2020.
Currently operators are still wanting to get involved in Japan it could generate $40 billion in revenues a year, however the amount of money casino operators will spend post-Olympic games on casino resorts would be much less that before it.
