Casino News – Japan Sets Standards, Wynn Issues, New-Name "Strat"

Casino News Roundup

This week’s casino news takes a trip around the world starting with the latest news out of Japan. The market is thirsting for casino action, but the government is still determining how to set everything up.

Japan to Require Casino Resorts to Have Large Hotels

Japan is a juicy marketplace for casinos and while we know they’ll be welcoming in gambling soon, we’re still waiting to hear all of the rules and restrictions. The latest news on requirements came out this week as the Government of Japan has unveiled a new set of standards it wants to apply to casino resorts. The proposed standards would require these casinos to have hotels and conference rooms, which would be among the largest in the country.

They stated that the hotel/resorts need to dedicate 100,000 square feet for guest rooms. That would mean about 2000 rooms, which far exceeds any of the biggest hotels in the country. Along with that, an exhibition hall with at least 120,000 square meters or a conference room with a capacity above 6,000 people. Or – as an alternative – a hybrid design with both a 60,000-square-meter convention room and a conference room with a seating capacity for 3,000 people. That’s not just your average hotel.

To put that in perspective, the largest current exhibition floor space in Japan is the Tokyo Big Sight, which is 95,000 square meters, and the biggest conference halls hold around 5,000 people.

Now the question is where will they put these behemoths, who will build them and will they be built together to form a destination that competes with Macau?

Wynn Settles With Genting Over Resorts World Clash

The contentious legal battle involving the outside appearances of two Las Vegas casinos has run its course. Wynn Resorts, a major player on the Las Vegas casino scene, has reportedly settled the five-count trademark and unfair competition lawsuit it filed against Genting Malaysia Berhad over the latter company’s currently constructed Resorts World Las Vegas property.

Wynn had objected to the Resorts World design being way too similar to the Wynn Las Vegas building, a fixture in Las Vegas on the Strip since 2005. In fairness, Resorts World, which has yet to be built, looked very similar in appearance. The Wynn and Encore buildings have a unique bronze shine from the outside and Resorts World was planning to have something very close to that.

The two sides have settled out of court as Genting made promises to Wynn to alter the design of its property in a meaningful way. Wynn has accepted the proposed adjustments and now both sides can save on legal fees.

Stratosphere Hotel-Casino in Las Vegas to be Renamed

The north part of The Strip in Las Vegas continues to remodel as they try to attract customers away from City Center and the south. The latest change comes from The Stratosphere Hotel-Casino, which will soon be renamed.

Hotel owner Golden Entertainment Inc. said the facility will be renamed the Strat Hotel, Casino & Skypod. While it might seem like a minor change, when you partner that with the $140 renovation project that began last year, it’s clear that the Strat is looking to appeal to a younger crowd. While the north part of The Strip used to be the main hub with Circus Circus and The Riviera, there’s now a generation of 21 year olds that hang out at Aria, Cosmopolitan and The Bellagio, and never go further north past the Wynn. Maybe this will bring some new life to that part of The Strip.