Could the Land of the Rising Sun soon be set to welcome its very own answer to Sin City? Japan, a nation of neon brilliance, looks set to welcome the world of bright lights and slot machines, as it has finally lifted the ban on legalised casinos.
This is welcome news to the plethora of national and international construction corporations and casino conglomerates seeking to boost their portfolios by investing in one of Asia’s prime locations, not to mention the world’s third-largest economy.
As the island nation opens its doors to the lucrative world of organised gambling, Japan is likely to see incredibly large sums of cash invested in a bid to play ‘catch-up’ with employment opportunities within the emerging projects coming thick and fast.
Bright Lights: Big Money
Big players such as MGM Resorts International have been expressing interest in breaking into the Japanese market as early as 2014, giving presentations on their eventual Asian vision. The firm’s senior vice president of global gaming development, Ed Bowers, reaffirms MGM’s commitment to a proposed $10 billion resort-style casino for the nation. Mr Bowers highlighted the role Japanese partners could play in the construction of an integrated resort in Japan. “MGM has never built a building in Japan: we are unfamiliar with Japanese construction companies, with Japanese construction techniques and Japanese construction subcontractors...This is why MGM absolutely needs the knowledge and expertise of Japanese corporate partners,” Mr Bowers said.
Boosting Asia’s Casino Culture
Japan’s lifting of the casino ban means an incredible amount of employment opportunity within the country, but it’s not just there where spending looks set to increase.
Macau, China, has seen its own casino resort explosion, as developers seek to capitalise on the Chinese crackdown in Beijing. The success of these mega-resorts is backed by the increasing revenue, which has continued to grow month-on-month, developers and punters alike are looking to grab the hottest ticket in town.
This bodes well for Japan, as the world’s third largest economy, as firms scramble to get casino projects up and running. Japan’s entry into the casino market is expected to transform the industry in the Asia-Pacific region. The Philippines, for example, is in a great position to benefit from the additional awareness created by the Japan casino legalisation.
According to the Okada Manila president, Steven Wolstenholme, the Philippine government has always been pro-business and pro-tourism. He’s said that these two attributes have contributed to a “really, really bright future for entertainment, hospitality, and integrated resorts in the Philippines.”
The Asia-Pacific region is likely to see a huge construction overhaul as locals have more spending money in their pockets. After years of playing catch-up with the Western world’s biggest cities, Asia has quickly become the new battleground for some of the world’s most ambitious and wealthiest construction projects.
With significant investment comes significant opportunity for the best and brightest in the world from construction to consultancy and, of course, quantity surveying. The entire Asian region is looking for candidates with your expertise, to ensure you’re in with a chance of working on some of the most exciting projects on the planet, submit your CV.