Japan’s Integrated Resort plan which is also known as the IR plan’s introduction and implementation can be postponed. Read below to know all the details.
The Integrated Resort plan has been experiencing some delays. But, a basic policy has been introduced by the Japanese government which will help in the IR plan’s implementation. Some updates reveal that the Basic Policy was said to release around July, but it could be postponed till the next year.
Joji Kokuryo, the managing director of Bay City Ventures said that the submission period for IR implementation plans Central Central Government by local governments and their IR partners runs from 4 January 2021 to 30 July 2021. This clear deadline affects every single timeline. If there are to be changes, it is much more likely that the July 2021 deadline is moved than the 26 July 2020 date, as the latter would involve revising the IR Implementation Law.
Although meeting the deadline of the implementation is a crucial point to avoid any more delays, many other things should be considered. There are details like the tax of this industry. Moreover, the gaming rules should also be considered. Keeping in mind all conditions, it’s a complicated task for the operators to make and confirm their casino plans. Joji Kokuryo said that the local governments only have about two to three months to choose their IR partners after they receive the proposals. After that, they will have about seven months to complete their business IR plans with their partners. So in all, the whole process will take around a year. In all, it seems like a very big task.
He also said that the four local governments which are the candidates for the plans namely Wakayama, Osaka, Nagasaki and Yokohama are moving here and there over their schedules for different reasons. But the one thing which has been same throughout is the decision of the governments’ choice of their respective partners in the Autumn of 2020. There must be a sufficient time period for the discussion and creation of a good business plan for their application.