The Asian gambling market is a hot topic today as Japan announce its latest tax plans and reforms, which show that it is still committed to the development of integrated casino resorts in the country.
According to reports, the coalition government show a ‘libersalisation’ policy in the tax proposals for casinos as part of the integrated resort developments.
In addition, such proposals are for the year 2022, as oppose to the initial expectation of 2021, which indicates not only that casino and gambling plans are continuing, but a timeline in which they can be expected to be implemented.
As part of the proposed laws on gambling tax through casinos within integrated resorts, the government could be looking at exempting casino revenue from tax for people who do not reside in Japan, to limit purchase tax liability and to further clarify casino prize tax.
Despite the unprecedented times surrounding the Covid-19 pandemic and controversial debate on casino resorts in Japan, the government looks to be pursuing the avenue of legalising gambling within casinos through three integrated resort licenses.
In other Asian gambling news today, casino operator in Macau – Wynn Macau – stated that it was expecting to raise more than $750 million from an ‘add-on issuance’ of unsecured notes.
Unsecured notes are loans, which are not secured with assets, in which the company will be able to charge a three percent premium to investors.
Also today, the recently rebranded casino resort hotel situated in Macau; the Londoner Macao, has announced that it has began taking bookings for guest stays that are scheduled to start from 22nd January 2021.
This news comes as boost to not only Sands China, the casino resort’s promoter, but also a vote of confidence to the region as it looks to put 2020 behind it and start its proper recovery following the Coronavirus pandemic.
According to reports, president and chief operating officer of Las Vegas Sands Robert Goldstein shared comments on the bookings and rebrand:
“The Londoner Macao will offer our guests another new and exciting experience while further illustrating our commitment to Macao and the expansion of its tourism offerings.”
The Londoner Macau news comes just six months after it was announced the venue’s opening would be postponed.
Fronted by English former professional footballer and current president & co-owner of Inter Miami CF David Beckham, the Londoner Macau is dedicated to bringing the best of London to Macau and is situated in the famous region of Cotai, Macau.
To conclude the Asian gambling news round-up, a South Korean based casino operator for foreigners – Paradise Co of Paradise Casino Walkerhill – announced that it was closing its doors for a period of one week due to Covid-19 concerns in the region. Reportedly, new local cases of the virus had been documented, taking the total infections over 44,000.