A Japanese lawmaker has warned that a proposed law requiring IR operators to renew their gaming licenses every three years would deter major investment due to financial insecurity and a lack of stability.
Independent MP Mito Kakizawa, a member of the House of Representative and former member of The Party of Hope, said that the renewal period was too short and placed an unfair burden on operators.
In particular he labeled a stipulation of the IR Implementation Bill currently awaiting passage through the Diet that would require operators to renew their gaming license every three years as impractical.
“This could hurt investment in IRs from operators because of the lack of certainty it presents,” Kakizawa said. “If you look at how long it takes to build an integrated resort of the size we are talking about, then under this law the operator’s license will have to be renewed before they have even had time to finish and open their IR. How can operators invest the money being discussed with so much uncertainty?”