What is Integrated resort?
An integrated resort is a large development combining a casino with hotels, convention space, retail, dining and entertainment, in which gaming is one part of a wider tourism offer.
The model was developed in Las Vegas and adopted by governments seeking tourism investment. Singapore opened two integrated resorts, Marina Bay Sands and Resorts World Sentosa, in 2010, with strict limits on the casino floor's share of the site and an entry levy for local residents. Japan approved its first integrated resort in Osaka in 2023.
Licences are usually awarded through competitive tenders and come with investment commitments and obligations on non-gaming attractions.
Integrated resorts are central to the Macau market, where concessionaires have committed to non-gaming investment under their concessions. Because they rely on attracting visitors from abroad, integrated resorts are sensitive to tourism and visa policy. Their financial results combine casino revenue with hotel occupancy, retail and entertainment income, and these figures are reported separately by operators. Many jurisdictions require a minimum level of investment before granting an IR licence.
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