Greek Gambling Reform Coming to a Dead End [...]
Japan Legislators Submit Casino Bill Again
- April 29, 2015 By Oliver Young -
Japanese legislators do not seem to surrender when it comes to the often delayed legalisation of casino gambling. According to Reuters, a group of the Japan Innovation Party and the Party for Future Generations resubmitted the unlucky casino bill for debate. This group also represents the country’s Prime Minister Shinzo Abe.
People that are somehow connected to the gaming industry hope that the Japanese legislators will have the time and will to discuss the casino bill that already failed to come up for a vote in 2014. The 150-day ordinary session of Japan’s Diet ends on 24th of July and everyone is hoping that the bill can be approved before that date comes.
People have a hard time accepting the fact that the proposed legislation should be discussed again, since it is exactly the same as the one from last year. In any case, if the bill is passed, Japan’s constitution will permit casino gambling in the country and pave the way for another bill whose objective would be to regulate casino licences, taxes and etc.
Prime Minister Sees Casino Gambling As Key to Economic Growth
According to analysts the potential casino industry in Japan could generate profit of $40 billion per year. Exactly this is the key factor why Prime Minister Shinzo Abe supports the latest legislation and considers it to be crucial for economic growth.
The legislation is also supported by the LDP’s junior coalition partner Komeito. Previously the party wasn’t that enthusiastic about legalisation of gambling and it made statements comparing it to highway to hell. However, it seems that Komeito has changed the opinion and reportedly consented to the submission of the bill.
The most interesting fact is that the LDP doesn’t need Komeito’s approval and support in order to pass the legislation. However, Japanese politicians are known for their determination to first achieve some kind of a unity before passing bills that are considered to be controversial.
Casino Operators Impatient to See Casino Gambling Legalised in Japan
Several popular casino operators impatiently wait for casino gambling to be finally legalised in Japan. The reason for this is obvious taken into account that Japan could rival Macau when it comes to making profit.
Two companies that have expressed interest to obtain gambling licences for working on the Japanese market are Las Vegas Sands Corp and MGM Resorts International. This came to nobody’s surprise after the analysis showed that the annual revenue this market could generate is amazing $40 billion.
It is believed that the Japanese Government would allow two large casino resorts to be built; one in Osaka and one in Tokyo. In addition, two smaller gaming facilities may be allowed in other cities.
The constant delay of passing the bill have ruined hopes of having at least one casino resort up and running before the Summer Olympic Games takes place in 2020 in Tokyo. With the current pace, 2021 is a much more realistic date when Japanese players can expect to have their first casinos.