Japan-based credit debt watcher Nomura has painted a rosy picture for the Japanese casino industry should the island nation decide to allow two major integrated resorts to operate.

Nomura made a forecast in its Friday’s note that the Japanese casino industry could generate US$7 billion worth of gross gaming revenue from at least two major integrated resorts.

The analysts from Nomura believe that Yokohama and Osaka are the perfect spots to construct an integrated resort due to its significant local population of nine million; sizeable inbound tourist flow of 10 to 18 million annually; and strong infrastructure support.

At present, the Japanese government is still on the lookout for a viable city that can host an integrated resort. It will be holding public hearings in nine cities related to the Japan casino industry’s framework, excluding Yokohama.