Japanese casino proponents announced earlier today that they are planning to once again submit a bill that would legalize the establishment of gambling venues at integrated resorts to the country’s legislature. Lawmakers have previously refused to pass the proposal into law.
Japanese Prime Minister Shinzo Abe himself has expressed his support for the launch of casinos at the integrated resorts that are to be built in the years to come. He said he believed this would contribute to the country’s economic growth and its residents’ well-being.
Yet, certain legislators, some of whom are members of the ruling coalition, have stated that if the bill is passed into law, this might have quite negative consequences on communities, as more Japanese might start showing symptoms of gambling addiction.
Takeshi Iwaya, who is member of the country’s Liberal Democratic Party and is also among the proponents of the casino legalization, announced that the bill will be filed before March 31, which is the last day of the Japanese fiscal year.
Mr. Iwaya explained to local media that they have decided to submit the proposal before the end of the fiscal year, as local governments that are considering the opportunity for establishing integrated casino resorts in their jurisdictions will keep on funding research projects on the matter in the upcoming year, as well.
Reportedly, major gambling operators like MGM Resorts International and Las Vegas Sands have expressed interest in launching venues in Japan.
According to the estimations of prominent brokerage firm CLSA, the country will annually receive more than $40 billion out of gambling activities.
Last month, it became clear that the cities of Yokohama and Osaka might be the first ones to establish integrated resorts with casino facilities, provided that the above-mentioned bill is passed into law. Officials from both places pointed out that they are considering this opportunity and are carefully reviewing the effects such major projects might have on communities and local economy.
Proponents of the casino bill are willing to see integrated resorts in Japan established before the beginning of the 2020 Summer Olympics, as they will most definitely attract a wide number of visitors from around the world, which will be good for the country’s economy. However, experts believe that they will probably not be completed before 2020.
Legalization of casinos on the territory of Japan will certainly be further discussed during the National Diet’s 150-day legislative session, which is scheduled to end on June 24.
