Japan Olympics announcement good news for gaming

International casino operators cheered the announcement last week that Tokyo has been chosen to host the 2020 Summer Olympic Games, declaring it good news for the potential legalization of casinos in the country.  

Japan will need to raise up to $1.53 billion to fund Olympic venues ahead of the games, so tax on an estimated $10 billion in revenue from two large scale casino resorts in Tokyo and Osaka could begin to look like an attractive source for those funds.  Gaming revenues could be taxed at up to 10 percent, with operators also being asked to pay local fees and licensing costs.  Interational operators circling Japan include Las Vegas Sands Corp., MGM Resorts International, Caesars Entertainment Corp., SJM Holdings Limited and Melco Crown Entertainment Limited.