The future of the industry

The nearest driver is integrated resorts (IR): high CAPEX, a bet on MICE and tourism, a multiplier effect for the regions and strict RG/AML requirements.

Pachinko/pachislot will continue its soft correction, offset by hall upgrades and gamification.

State sweepstakes will deepen digital channels (mobile, cashless, personal limits), expanding analytics and anti-fraud.

Regulatory vector - point corrections (KYC, limits, self-exclusion), but without liberalization of private online betting.

Risks: demographics and staff shortages, public perception, IR capital expenditure.

• Basic: the launch of the first IR, the growth of the online share in sweepstakes, stable revenue under the conservative model.
• Upbeat: Strong IR tourism effect, event exports and e-sports as Japan's showcase.
• Low-key: project delays and cost pressures, focus on efficiency and RG control.