Japan will be a "great gaming market," a key reason why MGM Resorts International has been committed to developing a multibillion-dollar casino resort project on Osaka's Yumeshima island, Ed Bowers, president and chief executive of MGM Resorts Japan LLC, said in a keynote speech at the industrial trade show Global Games Expo (G2E) Asia on Wednesday. The three-day event is being held at Singapore's Marina Bay Sands.

Only two have applied to the Japanese government for the right to host casino resorts in April – still pending approval. The other is an application for Nagasaki Prefecture, which has Casino Austria International Japan Inc. as its main commercial partner.

Under Japan's existing liberalization program, integrated resorts (IRs) with up to three casino resorts or casinos can be allowed nationwide.

In his keynote address, Mr. Bowness spoke about why several bidders who initially sought to invest in Japan's casino resort business ended up withdrawing from the process.

"Japan was very ambitious. They wanted to make the most of what they had done in Singapore and take it to another level," said Mr. Bowers. He is also the global development president of MGM Resorts.

"IRs are not just their own attraction, they are part of the tourism ecosystem. And they need to encourage visits across that ecosystem. This goal has never been explicitly presented," he said.

"Secondly, the industry must address the Japanese government's concerns about problem gambling and its perception of gambling run by anti-social organisations," the MGM Resorts executive said.

He noted that the topic led to much stricter casino entry requirements than Singapore.

"For some it was an overly complex business framework, a set of IR facility requirements that raised questions about the return on investment," he said, referring to outsiders" comments.

"Too much for others... As well as significant uncertainty, there is a recognition of "excessive rules and regulations that some are unique to Japan," Mr Bowers said.

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