Japan set to lift ban on casino in 2015

The Japanese government has been giving consideration to the potential development and legislation of casinos. Critics have raised concerns about a possible rise in problem gambling, but the introduction of casinos can often bring in extra revenue streams which cannot be ignored. Aside from helping to stimulate a tired Japanese economy financially, it is important to mention that casinos will create a large number of jobs, and will be one part of much larger tourist friendly resorts, which generate income even if tourists aren't gambling at the tables.

Shinzo Abe, who is the current prime minister, hopes to see casinos opening their doors on Japanese in time for the surge of tourists that Japan will see when they host the Olympic games in 2020… He failed to have his proposed legislation passed without a fuss last year, but having very recently won an election in Japan, he has now a good platform upon which to build and press his arguments for Japanese casinos over the next 4 years. Shinzo Abe has plans to raise the issue once more in the early part of 2015 which shows his determination to move forward with Japanese casinos quite soon, despite still having plenty of time left in office.

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Sinhzo Abe hopes casinos opening their doors in time for the Olympics in 2020

The only real uncertainty is how much investment the project will attract and how much revenue it will ultimately generate. Gaming in Japan could end up bringing in tens of billions of dollars for the country, but investment amounts, tax rates, and interest from customers will be critical. Las Vegas Sands Corp. (LVS), already said it’s ready to invest $10 billion in Japan. Melco Crown is also willing to spend $5 billion on building a casino resort in the country.

If Shinzo Abe does manage to pave the way for casino resorts in Japan, they will undoubtedly become one of the largest gambling destination on earth, behind Macau and Las Vegas

 

 

 

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