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Japan Begins Casino Legalization Debate in Earnest

Japan Begins Casino Legalization Debate in Earnest

Japanese lawmaker Takeshi Iwaya, a proponent that is leading of casino legalization: ‘It’s best to strike although the iron is hot!’ (Image: JapanDailyPress.com)

The world’s casino leaders will be closely watching developments in Japan in a few days since the country’s parliament referred to as Diet is anticipated to start debating a bill that seeks to legalize and regulate land-based casino gambling. Japan is observed as being a sleeping giant regarding the industry: it’s estimated that a casino that is regulated here could eventually generate $40 billion in revenue annually, which would make it the second biggest worldwide, after Macau. And Japan’s politicians are wanting to find new ways of revitalizing the economy and profit from the Tokyo that is upcoming olympics 2020.

Hit Whilst The Iron is Hot

The nation’s ruling Liberal Democrat Party submitted a bill to parliament in early December which is backed by a group of more than 200 lawmakers. Also, Liberal Democrat Takeshi Iwaya, a respected proponent of the bill, said he had recently secured support for the bill from a coalition partner and users of the primary opposition party.

‘We are getting close to starting debate,’ he said this week. ‘It is better to strike while the iron is hot.’

Meanwhile, Prime Minister Shinzo Abe has been visiting casino resorts in Singapore, where he expressed their interest in the good impact that such ventures could have on the economy tha Continue reading “Japan Begins Casino Legalization Debate in Earnest”