A group of Japanese MPs is proposing to update Japanese gambling laws in order to allow gambling on various gaming floors in the country. The measure is aimed to provide the necessary funds to speed up the country’s recovery from disastrous effects of tsunami this March.
Sources close to the government report that a cross-party group of highly influential lawmakers, including four previous prime ministers, is turning their attention to 2006 initiative. Five years ago attempts to update the country’s strict gambling regulations and allow gaming failed.
This time around there’s high hope that such a change will go through and the new laws will pave the way for introduction of Japanese gambling centers. MPs suggest that the casino tourism would provide significant funds and facilitate the reconstruction of heavily damaged north-east coastline currently estimated at $157 billion.
Gaming Capital Management is a US group behind the casino construction project. Its spokesperson told Japan gambling news: “Some members of the Diet [in Japan] are now insisting that casino legislation be passed. Casinos are a great taxation source and can contribute a lot under current financial difficulties related to the earthquake recovery process.”
The leading campaigner for the legalization of gambling in the country including online casinos in Japan, Issei Koga, states that casinos could become “enormously strong engines” for boosting tourism in the country and bringing in the much needed redevelopment funds. A market study by Osaka University of Commerce back in 2009 suggested that casino resorts could be worth $44 billion a year in Japan.
However simple plans may be on paper, life’s never straightforward, naturally. Japanese parliament would need to pass a law to lift the ban on casino gambling before any construction can begin. Industry experts hope the Japanese government realizes the true potential and benefits of casinos in rebuilding the country.