Japan Finally Legalizes Casino Gambling

It has been many years in the coming, but after several unsuccessful attempts Japan’s two houses of parliament have finally passed a bill allowing casino gambling in the country of 127 million people. According to estimates produced by the Daiwa Research Institute, just permitting three casinos to be built could help contribute around $10 billion in revenues to the Japanese economy, while for a fully developed industry that figure could rise up to around $40 billion.

Earlier this month, Japan’s lower house of parliament voted in favor of a casino bill that was presented to it. On Thursday, Japan’s upper house subsequently followed suit, with the move receiving the full backing of Prime Minister Shinzo Abe, who sees casino gambling as an important means of giving the country’s tourism industry and overall economy a much-needed boost.

Following its passage through both houses of parliament, the government will have 12 months to prepare a framework for the IR Bill, including laying down the grounds for a licensing regime, as well as putting in place measures to protect problem gamblers. If all goes smoothly, then Japan’s first mega-resort casino, complete with hotels, shopping and entertainment venues, could be ready to open for business by 2023.

Amongst the international casino operators hoping to get in on the action is Las Vegas Sands and MGM, both of which have said that they would invest $10 billion each in a future Japanese casino market. Following the recent positive parliamentary votes, an MGM statement stated that the company’s development team was currently exploring the country’s cultural and business communities, meaning MGM Resorts was now in a unique position to take advantage of any future expansion plans.

“After years of study in the region, we believe the opportunity exists to drive significant growth in sustainable travel and tourism, particularly from international segments, along with the creation of thousands of jobs and long-term economic benefit,” explained MGM.

Poker News
Mississippi Casinos Post Record Revenue in April as Sports Betting Beckons
04 Jun 2018
Mississippi’s casinos generated gross gaming revenue of $184 million in April, or 5% more compared to the same month in 2017. Furthermore, that total represents an all-time high for the state, and is 1.3% more than the previous record set in 2007 when thousands of volunteers entered Mississippi to assist in cleanup efforts post-Hurricane Katrina.
Switzerland Prepares For June 10th Legalized iGambling Referendum
04 Jun 2018
On June 10th, Switzerland will hold a national referendum to decide whether the ‘Money Gaming Act’ passed by the Swiss Parliament in September 2017 can be implemented next year in its present form. The piece of legislation paves the way for land-based casinos and local partners to offer legalized online gambling in Switzerland, although a
MGM Resorts International Buys NY's Empire City Casino for $850 Million
02 Jun 2018
Real estate and entertainment conglomerate MGM Resorts International has revealed that it’s embarking on a purchase of Empire City Casino, a slots and pari-mutuel wagering venue located in Yonkers, N.Y., just a few miles north of Manhattan. The deal was announced May 29 in a press release, and is expected to be completed near the
Delaware to Launch Full-Scale Sports Betting on June 5th
02 Jun 2018
Last month’s decision by the US Supreme Court to overturn the sports betting ban in the country has opened the floodgates for individual states to legalize and regulate sports wagering within their borders. Before its decision was even made, though, a number of states had already put in place the necessary legislation in order to