CEC, the company that operates the Japan Casino Academy croupier school, received an order to initiate bankruptcy proceedings from the Tokyo District Court on August 17. The CEC was initially established in September 2014 in Shibuya. The company’s debt is being calculated.
CEC opened the Japan Casino Academy with the aim of training professional casino dealers. In addition to operating multiple campuses in Tokyo, there were also locations in Osaka, Nagoya, Fukuoka, and Sapporo.
The school first gained real notoriety with a full-page advertisement in the Osaka and Tokyo editions of Sankei Shimbun in 2018. Online courses were also offered, and as of August 2020, annual sales were 120 million yen (880,000 USD), making it the largest dealer school in Japan.
On the other hand, students have also reported issues such as course content differing from what was advertised. Over the past few years, the company has scaled back operations and closed sites until it finally filed for bankruptcy. The company’s official website is already offline.
Japan’s IR dream was shattered from what looked set to become one of the world’s most exciting new casino markets just a few years ago, with only two contenders currently in contention despite a maximum of three licenses IR to win.
A third potential bid put together by Canadian investment firm Clairvest Neem Ventures and Wakayama prefecture was eventually canceled by local authorities earlier this year.