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HerbalTeaSeller

HerbalTeaSeller

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Japan passes bill to lift ban on casinos
Global gaming operators watch closely after first step towards $40bn market
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DECEMBER 6, 2016 by: Leo Lewis in Tokyo
Japan took a step towards legalising casinos on Tuesday, fulfilling a cherished ambition of Shinzo Abe and firing the starting gun on a race to control a potential $40bn Japanese gaming industry.

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In a parliamentary session that lasted less than 15 minutes and saw protest walkouts by some MPs, the lower house of parliament voted through a casino promotion bill that has been years in the making.

The vote, which came with the tacit support of Japan’s leisure, construction, banking and electronics industries, has the potential to transform a market where only a handful of betting formats are legal. Pachinko, the nation’s favourite form of gambling, made $34bn in gross gaming revenue in 2015 but is played in a legally grey area.

Legalisation of casinos, which newspaper polls suggest is not supported by a majority of Japanese, has been a pet project of Mr Abe since he became prime minister four years ago. Casino resorts are seen by a clique in the ruling Liberal Democratic party as a way of securing legacy after the Tokyo 2020 Olympics, and paying for tourism infrastructure as the number of inbound visitors rises above 20m a year.

“This is a huge, huge win for Japan Inc,” said a consultant to international casino operators. “They have lived, quietly, through several false dawns on casinos and now the situation is the closest to legalisation the country has ever been.”

For Japan Inc and the world’s biggest casino operators, legalisation would set up a two-stage beauty contest. The first will be fought among a handful of Japanese cities that will vie to host the first integrated resort facilities. The contest is likely to take a similar form to the way that Olympic bids are presented. Tokyo and Sapporo will submit proposals but Osaka and Yokohama, say people involved in preparations for those bids, have the most advanced proposals.

After that, the chosen cities will select between consortiums of hotel operators, construction companies and other groups to build and manage the resorts. Global operators such as Las Vegas Sands, MGM, Genting, and Wynn have spent four years laying the groundwork to pitch for business in a market that analysts at CLSA say could eventually match Las Vegas or Macau.

The rapid passage of the so-called integrated resorts promotion bill, which triggered an afternoon of volatility in stocks such as Konami, Sega-Sammy and Japan Cash Machine, related to casinos and pachinko and sets up a second vote in the upper house. A committee of that house will begin deliberations on Wednesday: there is expected to be opposition but the LDP is in a strong position, say government advisers, to ram the legislation through before the current session ends next week.

That clears the way for parliament to debate, within the next 12 months, a separate bill that will lay out the laws that will govern the way casinos are taxed, who can play, maximum bet levels and how to prevent them being used to launder money. Realistically, say analysts, Japan can expect its first casino to open around 2023.

People acting as consultants to two of the cities expected to bid for the resorts say passage of the bill will allow Japanese companies to openly express support for casinos, and begin explaining to shareholders how they might profit.

While a few companies, such as HIS, the Japanese resorts operator, have been open in their enthusiasm, others have held back from expressing public support for an industry that remains, for now, illegal.
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FA good.TA good. When you think it is cheap you buy more. Don't wait until expensive then chase, then kp say too expensive, miss boat just want to board, when boat come back still hesitate. Those who dare to take risk will huat(be it short or long) , those people who hesitate and want certainty, we call them laggards, laggards are usually stupid people (no offense). Worse still, when given certainty still hesitate, how can we describe such people?
 
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mcsane

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noob qn here. nvr really avg up before. initiated a smallish long position at 82c. how do u guys know if u shd avg up?
 
HerbalTeaSeller

HerbalTeaSeller

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In fact, it is good to see $1 being tested again.

1) It offers 2nd chance for people to buy
2) It offers shortist who shorted awhile back to exit position

To be honest, I brought quite alot today, if I were to chase and average up that would mean my avg would be up by 4-5bids. Good thing someone shorted down. I always try to look at the bigger picture nowadays, short term, too much noise.
 
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luxcan

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It is still considered risky right? There are 2 potential gates that need to be clear:
1) There won't be any entry penalty on the locals (japanese) when they visit the casino
2) Genting need to fight with international casino for the licence.

Any disappointment will cause the prices to sink. Somemore it is currently at 3% dividend yield only..
 
thegodfather

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HerbalTeaSeller said:
In fact, it is good to see $1 being tested again.

1) It offers 2nd chance for people to buy
2) It offers shortist who shorted awhile back to exit position

To be honest, I brought quite alot today, if I were to chase and average up that would mean my avg would be up by 4-5bids. Good thing someone shorted down. I always try to look at the bigger picture nowadays, short term, too much noise.
Click to expand...

:s13: i was late to party bought at $1 i think was yesterday and sold 1.03 today

Now went in again 0.99 looks like good support but if it doesn;t hold we might see down side sia.. hope it push through $1 again. :D

What does your chart tell you bro :D
 
HerbalTeaSeller

HerbalTeaSeller

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luxcan said:
It is still considered risky right? There are 2 potential gates that need to be clear:
1) There won't be any entry penalty on the locals (japanese) when they visit the casino
2) Genting need to fight with international casino for the licence.

Any disappointment will cause the prices to sink. Somemore it is currently at 3% dividend yield only..
Click to expand...

Then you wait loh. Those 2 potential gates still take quite some time to clear one. Maybe another year? :s13:

But chart shows rounding bottom lah, bullish bias.
 
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