Macau Casinos Anticipate Strong Competition from Japan
He specifically highlights Japan as a formidable potential competitor not only for Macau but also for the Philippines and Singapore. Although the opening of the first casino is not expected until 2029, Lam is confident that MGM's project in Osaka will justify the investment. The operator aims to capitalize on its status as a pioneer in the local land-based gaming market. "Once Japan opens its casinos, the advantages of Macau and Singapore will diminish," Lam asserts.
The expert believes that due to its small size, Macau's tourism potential is lower than that of Japan, which also offers more attractive prices for accommodation, food, and services. High safety standards for visitors, abundant tourist resources, and a wide range of entertainment options will make the Land of the Rising Sun a serious competitor to Macau.
Lam emphasizes that the advantage of casinos in Singapore and Japan lies not only in gaming revenue but also in the development of the tourism industry. In this context, Macau's reliance on gambling income makes its economy more vulnerable.
Japan has approved plans for the country's first casino in Osaka, aimed at attracting both domestic and international tourists. The MGM resort, with a projected cost of $8.1 billion, is expected to generate $3.6 billion in annual revenue. Forecasts suggest it will attract 6 million foreign tourists and 14 million residents of Japan.
Notably, the Rivers Portsmouth casino recently celebrated its millionth visitor.
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