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Japanese Legislators Outline Casino Plan

Japanese Legislators Outline Casino Plan

At the start of the year Japanese pro-casino group legislators announced that they were planning to submit a bill to parliament which, if passed, would see casino gambling legalised in Japan. Now the lawmakers have outlined the major component of its proposed policy including the creation of an independent gaming regulator which would oversee gambling across the country.

Japanese Legislators Outline Casino Plan

Pro-gambling legislators in Japan have outlined their proposed gambling policies.

The policy also highlights the importance of keeping criminal organizations out of the industry which it aims to achieve with strict licensing criteria.

The bill reads, “The hurdles to enter the business should be set high. It should not be easy for anyone to get a license and participate in the industry.
With proper regulation and enforcement of the law, there is absolutely no reason for casinos to become hotbeds of criminal activity.”

Japan has been forced to re-evaluate its attitude towards casino gambling since its economy has stagnated in the 1990s. The county is now hoping to become part of the gaming boom that is underway in Asia.

Until now the only form of casino gambling allowed in Japan has been the game Pachinko, however, it is thought that with the addition of casino gambling the country’s gaming revenue would be worth around $10 billion each year.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.