Nevada will no longer be one of the only main gambling centers as Japanese lawmakers have approved three casinos coming to Japan. One year ago, Japan approved gaming regulations and has now passed Japanese casino gambling legalization.
With development underway, it has sparked some potentially lucrative problems for the larger and more populated casino companies such as: MGM Resorts International, Las Vegas Sands, and Wynn Resorts.
The law passed by parliament will enable the opening of three casinos, though their exact locations have yet to be revealed. The first casino is anticipated to open in the mid-2020s.
Many voters who took part in this legislation voted that they did not want the casinos. In fact, 67% of people who voted were opposed to the idea of casinos in Japan. Andrew Gellatly, the head of Global Research Services for Gambling Compliance, spoke on a KNPR podcast about the new legislation. When he was asked about those opposed to the idea and how the government was looking at the legislation compared to the way people are, he said, “I think one of the most revealing events was on June 8th when the Prime Minister, Shinzo Abe, showed up at the cabin of committee, meeting at the lower house, and he spoke very passionately about the economic benefits of regional casinos in Japan.”
The Prime Minister, Shinzo Abe, is looking at Japanese casino legalization as a way to expand Japan’s economy and tourism, while those who are opposed to the bill worry that the new legalization of gambling will lead to gambling addiction. Due to the high percentage of those opposed to the idea, the Prime Minister has promised to go on a nationwide caravan tour of Japan to explain the benefits of casinos to the public.
Several of the top American casino firms, such as MGM Resorts and Las Vegas Sands, are enthused and look forward to seeing these Japanese casino projects. The casino industry has been keeping an eye on the Japanese gaming market, in hopes that it could be worth $25 billion annually.
“Japan took a giant step toward strengthening its economy, attracting international travelers and implementing stringent gaming regulation that protects consumers and eliminates criminal activity,” the American Gaming Association said in a statement.
While these plans are set, there are also some restrictions on these casinos due to the concerns of potential gambling addictions. There will be a $50 entrance fee for residents of Japan, foreigners will not need to pay the entrance fee. Another restriction is that visits will be tracked and limited. For example, Japanese guests will only be allowed a maximum of 10 visits every four weeks.
Japanese casinos will also be responsible for paying 30% of gambling wins to the government. They are required to pay the 30% in efforts to make the casinos an entertainment destination rather than simply a building in which to gamble.