Last updated: October 05, 2023
Industry-leading land-based casino Bally’s threw a real spanner in the works the other day, when it announced its intention to build an integrated resort in Japan.
Hoping this will lead to more casino and gaming business in the country, the announcement shocked the gaming world.
Japan has always tried to lure casinos to establish themselves there, across three licensed cities: Nagasaki, Osaka and Wakayamaintially being licensed.
Other casinos, including MGM Resorts International, are slated to win in Osaka, while Caesars has been eyeing up Wakayama.
Bally’s postnatal base will be in Fukuoka, japan’s 6th city, which was initially ignored as a potential for an initial casino license. In fact, Fukuoka’s mayor, Soichoro Takashima, has even gone on record to say he is uninterested in bringing a casino to the city.
Yet, in spite of all of this, Bally’s board appears nonchalant: VP Christopher Jewett stated, “Fukuoka has tremendous potential as a host community for an integrated resort.”
With 11 casinos across 10 states, Bally’s has always played it safe when it comes to looking intentionally, the Japan project is the first sign that it’s considering an international move.
Having bought Gamesys for $2.7 billion last year, the Japan deal’s $3.9 billion is twice the market capitalization it currently enjoys of $1.57 billion. It certainly seems like if it was to happen, there would need to be some serious questions raised about how Ballys would try to raise capital for the Japan project, or if other investors or partners would need to be brought on.
