If the gambling bill is passed, Japan will host the world’s third biggest gambling industry, after that of the UK and Macau.
Japan has taken positive measures to introducing a bill to legalize the gambling market. This would permit casino-based Integrated Resorts to be opened. The bill was finally capitulated on the the desk of the head of the Japanese parliament. Should the bill go through, the third world’s largest online gambling and land-based markets could be created, behind those of Macau and the US.
The bill has gleaned support from a few political parties in Japan. Hopes are that the bill will be passed after discussions, by August, at the close of the current parliament session. Shinzo Abe, Japanese Prime Minister, supports the gambling bill along with his Liberal Democratic party. If the bill is passed through Japanese gambling law, the gambling market could help initiate a surplus revenue of around $40 billion each year.
Integrated Resorts may affect Japan’s municipalities and gambling addictions
However, despite this support, the bill is still under harsh criticism from members of Komeito, a Bhuddist party group in coalition with Abe’s government. It seems that the Bhuddists are worried that the Integrated Resorts will have a negative impact on Japan’s municipalities. Also, concerns are being raised about gambling addiction becoming rampant like in the US, UK, Macau and other Asian countries.
According to gambling news reports, a regional gaming executive explained that the only way for Japan to legalize casino gambling is to get approval from the public. Especially since Japanese authorities believe that the Integrated Resorts could play a major role in the development of the tourism industry. However, with Komeito denying their support to the bill, gamblers may have to wait a much longer time to have a luxury casino built in Japan.