Japan To Set Up IR Oversight Office
It has been widely reported in Japan that the set up of the oversight office that will be in charge of casino regulations, which will include licensing control and background checks on all applications towards Integrated Resorts will be established in July 2019.
The new body will have some 95 staff initially at a budget cost to the country of $54 million per year, it is not clear however if the oversight office will be involved specifically in choosing the bidders for Integrated Resorts or just overseeing those chosen.
Reports also suggest that the oversight office will not be responsible for the day to day operations of casinos in Japan, that role will be given to a yet to be established Board of Control.
It is understood that there are now 40 local governments interested in applying for an integrated Resort with only three licenses available.
Most observers believe that Integrated Resorts in Japan will not be operational till 2025 and the process to win a license and the guidelines to be able to apply will not be known till 2020.