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Japan’s path to IR legalisation was not straight forward. The IR Promotion Act, which set Japan on the road to casino-integrated resorts, was passed in December 2016 after a contentious debate. Nearly two years later came the IR Implementation Act, which laid out the regulatory frameworks for casinos, from entry restrictions to measures addressing gambling addiction and other social concerns. Yet even as the government pitched IRs as a catalyst for tourism, regional development and economic growth, opposition remained aggressive.
Among the opposing forces was Kenji Eda, a prominent House of Representatives lawmaker from Yokohama and a senior figure in the opposition Constitutional Democratic Party of Japan. Eda has been a vocal critic of the government’s IR push, raising concerns over gambling addiction, the economic impact on local businesses and whether the casino-led model would deliver the promised benefits.
The prospect of international operators snapping up Japan’s coveted IR licences gradually lost its lustre, as the likes of Wynn Resorts, Las Vegas Sands, Genting Singapore and Caesars Entertainment balked at the demanding regulatory framework, hefty investment requirements and uncertain returns.
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During a previous Sphere earnings call, Sphere chair Jim Dolan teased a “broomstick ride with a witch.”
That line got repeated as part of “Wizard 2.0,” with most media outlets assuming it was to be among the production’s new effects.
Our suspicion is that Dolan was referring to an immersive video simulator—likely intended for the lobby before the movie begins.
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Distributed gaming followed at 27%, then casinos at 25%.
Again highlighting his view that this was a low-risk merger, Angelozzi described Spain and Italy as “among the best globally” in terms of markets.
Angelozzi observed particular opportunity in Spain, where he estimated Cirsa holds 6% of the online market, suggesting it’s more fragmented and less developed than in Italy.
