Hard Rock Café International is ready to make a big investment in the Japanese Casino Market ever since lawmakers have proposed to discuss the legalizing of casinos in the country. The chairman of the casino said that they are looking to buy up to 60 percent stake in a Japanese casino resort, an entry into what would be one of the biggest casino market in the world.
The café and casino chain is looking for partners in the upcoming bid for license should the Japanese legislation approve gaming resorts.
"We are looking at 40-60 percent equity participation," Chairman James Allen said. "It's important to make sure our local partners are involved in the relationship, not just as blind investors.
CEO Hamish Dodds said in an interview, "We can either play a lead role or a partnership role. We really hope that we can collaborate with Japanese partners and institutions."
Hard Rock is popular for its music-themed restaurants. The company also owns casino resorts and currently has 11 casinos in North America. It now has plans to open up a casino in Japan should the casino resort market regulation in the country be made open by their legislators.
Hard Rock Café International Inc. joins the Las Vegas Sands Corp. and MGM Resorts International in eyeing the casino resort business in Japan
The company is currently owned by Seminole Tribe of Florida and has identified a number of potential partners. Its Japan arm will be operated by Edward Tracy, a veteran in the casino industry.
Analyst conclude that it is the country's wealthy population and tourist appeal that can help boost the casino market there, thus making Japan the second-biggest casino market behind the United States.
Source: http://www.reuters.com/article/us-japan-casinos-hard-rock-idUSKBN16100V
