Genting Singapore said it is is exploring the viability of expanding into Japan as it expects the country to pass its gaming law in the next 12 to 18 months. Chairman Lim Kok Thay said the casino company is monitoring Japan’s legislative process and said the market offers “good potential.”

“I’m more optimistic on something happening in Japan,” he said. “It’s all about the legislation. The group wouldn’t do anything until there’s clarity on gaming regulation.”

Gaming operators including Las Vegas Sands and Caesars Entertainment have all said they are interested in building casino resorts in Japan, which could emerge as $41bn industry according to a 2009 study by Ryosaku Sawa, an economics professor at Osaka University of Commerce.