The Japanese parliament today passed legislation to legalize casinos, paving the way for the development of casinos integrating resorts and shopping.
Major international casino firms such as Wynn Resorts, MGM Resorts and Caesars have all expressed interest in the business prospects in Japan. They are looking for new markets, especially those near China.
Earlier this week, the Japanese Senate passed this bill. And today, it also received approval from the House of Representatives.
Prime Minister of Japan – Shinzo Abe is a strong supporter of this. He believes these changes will stimulate tourism and revive the economy.
However, politicians will have to take more time to devise management plans. Therefore, it will take at least another 6 years for casinos to open here.
Daiwa Research Institute estimates that just three casinos in Japan can make an annual profit of $ 10 billion. However, they also assumed that Japan would have to find a prominent way to attract players from Asia. Because these people are familiar with the casinos in Singapore, Macau, the Philippines and Korea.
Japanese politicians have debated a plan to legalize casinos in Japan over the past 15 years. Their protests mainly due to fears of gambling addiction and other social consequences, such as organized crime.
According to a recent survey by the NHK channel, 44% of respondents oppose the plan. Only 12% agree and 34% cannot decide.
The previous casino is still considered illegal in Japan. The most popular form of gambling here right now is the Pachinko machine. But betting on horse racing, boat and bicycle racing is done through bookmakers approved by the Government.