Japan’s casino market in making would be the world’s third-largest in the world according to the analysts at Sanford C. Bernstein.
According to a recent report from Sanford Bernstein, the Japanese casino market will generate $8 billion in gross gaming revenues annually. As such, it would be smaller than the Nevada casino market which grossed about $11 billion in revenue in 2018.
Since Japan announced its plans for opening the casino and gambling market, analysts held that it would be the second-largest only after Macau. Macau’s casino market is the biggest in the world and generates about $30 billion+ every year. In 2018, the Macau casino industry generated $37.5 billion in revenue.
The analysts at Sanford Bernstein wrote in their report: “The three Japan IRs that will be authorized in the first round will be located across the country in three different municipalities. This is [a] very different market structure of creating a centrally located critical mass (like Macau, Manila, and Singapore which all benefit from their critical mass locations)”
There is a tough competition amongst gambling operators from across the globe as most of them are vying for a casino license in Japan.
Several operators have revealed their plans for a Japanese casino and have also secured partnership deals with local companies.
Recently the Osaka prefecture which is seeking to have a casino developed by 2025, revealed the names of gambling operators who have applied for a casino license.
Japan will have three casinos in the first phase.