With many economic benefits credited to the gambling industry, Japan is looking to make use of the lucrative business by allowing casino operations.
Prime Minister Shinzo Abe is known to be a great supporter of introducing a casino market in Japan, which would see national tourism flourish in the future. Considering that Tokyo will be hosting the Olympics in 2020, the government is looking to enhance its image as an international destination in the lead up to the global event.
Some corners of the government have voiced their concerns about the possible ramification associated with the gambling industry. Opponents of the lucrative industry believe that many social issues would arise from legalizing casino operations. Gambling news reports that current estimates indicate that 1 in 10 Japanese men have serious addictions to gambling.
Legislators would promote responsible gambling
Officials that would like to see the law passed as soon as possible state that regulations will be implemented to battle problems by promoting socially responsible gaming. The gambling industry is known for delivering vast amounts of revenue while also contributing with employment opportunities, it is easy to see why the legislation will happen imminently.
In light of these developments, many multinational gaming firms have been lining up to snatch a casino license in the country, as required by Japanese gambling laws. Caesars Entertainment has earmarked a $5 billion gambling project that will feature state of the art facilities for both visiting tourists and gamblers.