Posted on the 30th of November 2016
Casino gambling may finally be coming to Japan
While it is legal to wager on horse, boat and bicycle races, casino gambling in Japan is currently illegal. There has always been a fear that legalizing casino gambling may lead to an increase in gambling addiction, and casino related crimes such as money laundering. However, lawmakers are scheduled to take a closer look at the possibility of legalizing gambling, and what it could mean for Japan’s economy.
Lawmakers will soon debate the IR Promotion bill, which would decriminalize casino-style gambling. If the bill is passed, then a second bill, the IR Implementation bill will need to be passed which will essentially contain all of the necessary information for potential casino developers.
So far, international casino operators including Hard Rock Café International, MGM Resorts International and Las Vegas Sands have expressed interest in acquiring casino licenses in Japan.
“Everybody is looking at Japan. The Japan legislation seems like it’s finally going forward. I personally have been lobbying it for many, many years. We would be extremely interested and will definitely participate in it, if we are lucky to.” said Lawrence Ho, chief executive officer of Melco Crown Entertainment Ltd
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