Galaxy Entertainment and Societe des Bains de Mer, a Monaco-based company that owns casinos including the Casino de Monte Carlo, are teaming up for a Japan casino licence.

Japan

The two have recently been working together to build relationships with government officials, prefecture governments and other corporations to learn how to do business in the country, Galaxy president Michael Mecca told Nikkei Asia Review.

The plan is to use the Monte Carlo brand and jointly develop entertainment businesses in Japan and throughout Asia, he said. Galaxy owns five per cent of SBM, paying $46.1m for it in 2015. Mecca called Casino de Monte Carlo the original integrated resort.

Enabling legislation setting out the details for Japanese casino development and taxation have yet to be enacted, including whether local partners will be required. Galaxy is not set on having a majority stake in any project in Japan, he said.

Galaxy deputy chairman Francis Lui told the Hong Kong Economic Times he is confident his company can secure a licence.

Source: Fantini's Gaming Report