Foreign investors interested in the hospitality and tourism sectors and related opportunities in real estate, retail and finance have welcomed legislation passed late last year in Japan to open the world’s third - largest economy to legalize casino gaming as part of integrated resorts (IR) that include other facilities, such as hotel, retail and convention facilities. Industry experts believe that Japan is positioned to achieve up to $25 billion per year in gaming - related revenue, which would make Japan’s gaming industry roughly four times larger than that of Las Vegas and almost as large as Macau’s. However, the new legislation is general and the legal and regulatory regime will only come into focus once implementing legislation is enacted, which is expected to occur by year - end.

Originally published in Law360, New York - May 8, 2017.