Melco Resorts & Entertainment’s recent move to acquire a sizeable chunk of Crown Resorts could have some big consequences for their push for a Japan integrated resort (IR). Several analysts have shared their opinion that this could be the move Melco needed to make to win an elusive IR license.

GGRAsia collected the thoughts of four brokerage firms on Melco’s purchase of 20% of Crown Resorts. Every single one of them saw this as a positive move for the purchaser, and believes the deal makes them look better in the Japanese government’s eyes.

“While Melco will utilise some debt capacity to fund it share purchase, we do not see this as an impediment in Melco’s Japan bid,” Sanford C. Bernstein Ltd wrote. “In fact, owning an Australian operation may help enhance Melco’s standing in the bid process.”

Nomura Instinet LLC noted that by expanding their global presence, Melco has made themselves a more attractive option for one of the three IR licenses. Roth Capital Partners agreed with this conclusion, writing: