Japanese Gambling. Legislation that makes legal the casino gambling in Japan came officially into effect on Monday (December 26), and the Banking group Morgan Stanley said that any casino venue or venues in Japan might only open after the year 2021 following a second piece of legislation.
“Japan must pass the implementation bill which may take six to 12 months and then undergo the request for concept and request for proposal process, which could at least take six months. This pushes the opening of the first casino to at least 2021/22,” said the institution.
A number of Japanese politicians and news outlets in the country have previously referred to a Singapore-style system of safeguards for any Japanese casino industry. (READ SO JAPAN BEGINS CASINO BILL DISCUSIONS WITH WALK AWAY)
In Singapore, citizens and permanent residents of the city-state wishing to enter the two casino resorts there are required to present identification and pay a levy either for 24-hour access or a 12-month permit. Such measures were said to include ensuring that anyone deemed ‘at-risk’ would have their access to casino premises limited.
Japan had 19.7 million international tourism arrivals in 2015, according to the Japan National Tourism Organization. In the same period, Macau (the world’s largest single jurisdiction for casinos in gross gaming revenue terms) had 30.7 million tourism arrivals, including mainland Chinese visitors.
The major cities of Tokyo, Yokohama and Osaka have been mentioned in media reports and analysts’ notes as leading contenders for large-scale casino resorts. Japanese casino industry could generate US$40 billion or more in annual revenue, Bloomberg reported.
