Date
26 September 2017
Dynam chairman Yoji Sato wants to introduce cash prizes for pachinko players. Photo: Reuters, HKEJ
Dynam chairman Yoji Sato wants to introduce cash prizes for pachinko players. Photo: Reuters, HKEJ

Dynam bets on pachinko win from casino bill

Dynam Japan Holdings Co. Ltd. (06889.HK), is trying to convince Japanese legislators to amend a casino bill to legalize cash prizes for pachinko, the Hong Kong Economic Journal reported Monday, citing chairman Yoji Sato.

The pachinko operator wants the government to let pachinko players win money rather than prizes like the cigarettes and snacks that they are now given.

Despite five days of debate, Japan’s lower house of parliament failed to pass a law to legalize casinos before the legislative year ended on June 22. The bill was drafted as part of a plan to boost tourism before the Tokyo Olympics in 2020.

But Sato said he is confident the bill will pass this year after the start of the next session in September. If so, he hopes the pachinko amendment will be included.

Passage of the bill would also mean that the first batch of casino licenses could be granted in 2016 at the soonest.

Dynam had expressed interest in setting up casinos in suburban areas but Sato said no decision had been made on where.

The company’s chances of securing on the licenses seem slim because, according to analysts, operators in major cities are more likely to get the go-ahead and no more than three will be given the green light in the initial stage.

Nevada-based Wynn Resorts Ltd. (WYNN.US) and Macau’s SJM Holdings Ltd. (00880.HK) have both expressed interest in partnering with local operators to explore the market.

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VW/AC/SK

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