Gambling legalization in Japan was believed to take the development of the gambling sector of the country to new heights and although authorities and players were hopeful that the new rules and regulations will become officially valid anytime soon, regulators announced that the legislation is not likely to take effect before 2015.
According to gambling and political experts, the proposal is not among the top priorities of the Japanese authorities and players should not count on promises that might not be kept.
The problematic casino gambling legislation has been a subject to fierce discussions and created lots of scandals. Shinzo Abe, the Prime Minister of Japan, was believed to succeed in leading the legislation affairs to a successful outcome before the end of 2014 but unfortunately this is not going to happen. Instead, the legislation was postponed and it is not likely to be discussed in the next couple of months.
One of the main reasons why Abe was so eager to implement the new rules and regulations was his willingness to improve the economy by legalizing several casinos, which will bring huge annual revenues. Plus, slowly but surely, the Olympic Games competition is approaching and Japan will definitely need some financial support. Abe’s intention was to allow gambling providers to legally operate on Japanese soil and generate a decent income ahead of the most important sports event of 2020.
Abe was supported by the party of Komeito but unfortunately they did not get a majority vote. The resignation of two members of the cabinet as well as the political scandals also made a great part of the ministers hesitate about supporting Prime Minister’s proposal or not.
It seems like Abe is one of the few politicians who realize the importance of allowing gambling providers establish land based casinos. The taxes they pay and, respectively, the revenues that will be generated, will have an extremely positive impact on country’s economy right on time before the Olympic Games.
Although the majority of politicians are in two minds about supporting the proposal or not, the existing online gambling operators are also looking forward to see a change in the rules and regulations. Currently, reputable gaming providers, such as 32Red, are attracting a great number of players, willing to take part in gambling activities online. If all those people visit a land based casino, located in Japan, it will result in an annual revenue, equal to $40 billion.
The growth of the gambling sector in Japan can be quickly accelerated by creating platforms where online and land-based operators can work in collaboration.
Despite the great opportunity for boosting country’s economy, the chances for postponing the gambling legislation in Japan for at least several years, are pretty high. Nevertheless, it’s a question of time politicians to realize the benefits of legalizing the gambling activities.
