Casinos Become Legal In Japan Effective Monday, January 1st
To start off its New Year, the Japanese House of Councillors passed a bill this week authorizing the construction of casinos. The Japan Times reports that according to LDP lawmaker Ryosuke Kozuki, its primary purpose is to boost the economy and Japan’s tourist industry, potentially adding as many as 40 million visitors by 2020. Moved forward to passage by the efforts of Prime Minister Abe, he too is supportive of the belief that both Japan’s economy and tourism industry will realize the benefits of casinos. Estimates are the Japan can add $30 billion USD to its country’s coffers.
Like many recent American casino developments, Abe plans to include shopping malls, entertainment venues and conference halls to encourage participation and create a complete entertainment environment for businesses and individuals alike. The bill signed into law is only the first step to actual casino construction. It lays the foundation for the Japanese government to create laws governing the operation of casinos, including potential problems associated with gambling including gambling addiction.
Though accepting the new law, the President of the Society Concerned About the Gambling Addiction, Noriko Tanaka, expresses concern about the issue of gambling addiction. He suggests that the new legislation needs to be revised to minimize the growth of gambling addiction once the casinos become a new part of Japanese culture. He refers to Japan as being a “gambling superpower” and says that the country is anywhere between 10 and 30 years in addressing the problem of gambling addiction when compared to other countries that have an established casino industry.
From a Western perspective, Japan already has two forms of legalized gambling – horse racing and public lotteries. Casinos would add to the current options, and the Wall Street Journal reported earlier this month that major casino entities such as MGM Resorts International, Caesars Entertainment, Las Vegas Sands, and Wynn Resorts have been encouraging casinos in Japan. Once Japan hammers out the regulations it can be expected that there will be significant interest from these companies.
Japan’s tourist industry saw 20 million visitors enter its country for the first time in its history. Despite its potential problems, Japan is preparing to move forward and surpass this historic number through casino development.
