A bill promoting the legalization of casino gambling in Japan passed the country legislature’s Lower House on Tuesday. A spokesperson for the Japanese Diet, the country’s government, said that the proposed legislation was sent to the Upper House.
Lawmakers will try to take advantage of the momentum the bill has gained in order to have it enacted by the end of this year’s legislative session. The Diet is due to adjourn on December 14.
The Tuesday positive vote came after a Lower House Committee passed the proposal on Friday. According to analysts, the governing Liberal Democratic Party, led by Japanese Premier Shinzo Abe, has good chances to gather enough support from its members and members of its coalition partner – the Komeito, to offset opposition at the Upper House vote.
However, the outcome cannot be predicted with complete certainty as the process of passing a bill includes a number of participants beyond the LDP and the Komeito. And some of the other participants, including the Democratic and the Communist parties, have previously objected to the legalization of casino gambling.
What is more, a poll presented by the local Yomiuri newspaper showed that 57% of the interviewed Japanese citizens said that they opposed casinos and only 34% spoke in favor of the proposal.
It has become known that if the bill is passed before the end of the current legislative sessions, lawmakers will look to have the first casino property launched in the early 2020s, possibly in 2023.
Although it was introduced years ago, the proposed casino gambling legislation has never advanced too far. According to many, its chances to be signed into law have never been bigger than they are at present. Once enacted, the bill will lay the foundations for a multi-phase legislative process. Another legislation will have to be passed, one underlying the regulations under which casinos will be operated, before any construction work commences.
International gambling giants like Las Vegas Sands, Wynn Resorts, and MGM Resorts International have expressed interest in building a casino in Japan. All three companies specialize in the operation of integrated casino resorts, and the East Asian country aims at legalizing this exact type of properties.
It has been understood that another major operator may join the race for a Japanese casino license, if there is such race. Las Vegas-based company Caesars Entertainment has also noted that it would like to take part in the establishment of the country’s gambling industry. It seems that Japan and Brazil have become the operator’s main markets of interest to expand into.
It is believed that Japan has the potential to turn into a highly profitable gambling jurisdiction due to the high percentage of wealthy residents, its near proximity to China, and the success of other forms of gambling.
