Like the release of a new FHX baby Dragon on Clash of Clans causing a ripple of excitement to run through the nerdiverse like a digital tsunami, news that legislators are stepping closer to legalized Japanese casinos has set the gambling world alight with the big names already seeing a boost to their future earnings potential.
Japanese gambling laws have long lagged behind the rest of the developed world with only horse, boat and bicycle races being acceptable by authorities to be wagered upon at state controlled outlets, however this has not stopped the Japanese gambling online or with slightly more dubious characters, often emanating from the world of organized crime. However now parliament looks set to legalize Japanese casinos and on that news the world’s gambling giants have high hopes of a brighter tomorrow.
Move Towards Japanese Casinos
- Parliamentary panel approved
- Big players see share price rise
- Market worth $40bn a year
The Asian gambling market has suffered for a few years now under Xi Jinping and his “Crack Down” on corruption in China that has swept with it many gamblers, and given growth in Macau a kick in the kidneys, and the idea that now Japan would open itself up to casinos is big news in the region and looks likely to set off a bit of a race to see who can have their Japanese casinos up and running first, with all the big global gambling players like Bet365 ready to capitalize on the new market as soon as possible.
Bet365 And Others Eye $40 Billion Market In Japan
You can expect Japanese casino resorts to get built faster than their Tokyo 2020 Olympic games facilities, the gambling market in Japan worth an estimated $40 billion annually, and this despite the opposition voiced in opinion polls that showed 44% of locals opposed the plans and only 12% were in support, however any Japanese gambling news will be of this bill being defeated evidently has little idea of parliamentary procedure which makes the law a sure thing regardless of what MPs think.
Traditionally gambling in Japan has all been about Pachinko, a bizarre vertical pinball machine, that was tolerated because of its popularity despite a somewhat murky legal standing and whilst Japanese casinos may well include these machines it will be interesting to see how the gambling market in Japan responds to easy access to the Chinese mainstay of Baccarat and the Western pillars of Roulette and Blackjack. Will the Japanese government even permit internet gambling at Bet365 and the like?
Japanese Casinos Legalization Boosts Share Prices
Certainly international investors seem to think so. Share prices of major gambling companies rose on the news of this parliamentary progress towards the legalization of Japanese casinos, indicating that there’s money to be made ahead. Las Vegas Sands shares bounced up 3% on the day with Wynn Resorts getting a 2% lift alongside MGM resorts that likewise picked up a couple of hundredths. However just to what degree this will buoy the net gambling companies like Bet365 remains to be seen in the details.
Each of the big players, like Bet365, will have had plans on hand for this scenario for quite some time now, having lobbied hard for the change, and the chances are they’ll be quite influential in the drawing up of the regulations that will apply to Japanese casinos in the future, with long term substantial capital investments in Japan to be haggled over at the same time. This shouldn’t take long and soon you’ll be able to do far more than merely bet on sports in Japan, as the big casinos hit their beaches and cities.