The Japanese government commenced on Tuesday work on the second part of its plan for the legalization, construction, and operation of integrated casino resorts in Japan.
The Diet (the country’s government) legalized casino gambling last December and now needs to craft and approve a second legislative piece that will aim at regulating the industry and ensuring the safe and responsible provision of gambling services. The new bill will also determine the preferred locations for up to two integrated resorts and the developers and operators to be put in charge of the massive projects.
The Japanese government has assembled a special taskforce to prepare the new bill. Members of the unit include lawmakers, economists, and different other experts.
Speaking at Tuesday’s first meeting Prime Minister Shinzo Abe said that they intend to establish “clean casinos” and will introduce regulations of the highest standard in order to achieve that. The country’s top official further noted that the taskforce will also be charged with developing an effective system for the proper implementation of the country’s casino laws.
Although the government has not confirmed any timeline, it is believed that the bill will be submitted during an extraordinary legislative session this fall. Hopes are that the legislative piece will be voted on and approved by the end of the year. However, first casino operations may not commence before the early 2020s, according to industry analysts.
Japanese lawmakers have repeatedly pointed out over the past several months that responsible gambling and the protection of Japan’s population from gambling-related harm will be among the most important topics to be discussed, once the new bill is in the works.
Local media has recently reported that the country’s ruling parties are planning to also introduce a bill that would be primarily focused on providing a player-safe gambling environment once first casinos open doors. The piece will also change the way Japan’s existing pachinko and horse racing industries are regulated.
The Japanese government begins work on the second casino bill at a time when international gambling operators are stepping up lobbying efforts in the country. Casino giants have been eyeing Japan since first reports about the country planning to open its market for casino gambling emerged several years ago.
Although analysts have published ambitious initial forecasts about the local market reaching $20 billion, it is important to note that Japan is located in a region with already heated up integrated resorts competition. Macau has already established itself as a popular casino hub and the Philippines, Singapore, Australia, and South Korea, among several more, are following suit with the construction of massive multi-purpose complexes to lure wealthy casino patrons from the area as well as from other parts of the world.
