3 Blazing Scarabs Hold And Win

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There is a second complication. The relentless flow of Commission statements may eventually make enforcement less damaging rather than more.

“The regulatory failures are unhelpful but perhaps the sheer number and regularity of them has made them less remarkable, such that they become ‘wallpaper’,” Waugh says.

He argues that some lawyers and licensees believe the Commission’s presentation of cases is detached from the operational reality but feel they have little option other than to accept the “regulator’s truth” when settling.

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“As the RFP process played out, regulators introduced additional policies and regulations. As each regulation was introduced, developers adjusted their gaming forecasting models downward. Finally, those models reached a tipping point where potential revenues were insufficient to justify a project’s capital costs,” says Klebanow.

Japan’s attempt to reap the economic benefits of casino gaming while keeping gambling socially contained is comparable to Asia’s dominant casino hubs Singapore and Macau.

Singapore has also imposed a highly controlled casino model, with casinos embedded within enormous integrated resorts and accompanied by entry controls and social safeguards. But by incorporating other forms of entertainment into their resorts, Marina Bay Sands and Resorts World Sentosa have proved hugely successful businesses that blend casino gaming with complementing luxury retail, hotels and entertainment.