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Japanese Parliament Unlikely to Pass Gambling Bill this Session

Japanese Parliament Unlikely to Pass Gambling Bill this Session

While decision makers in Japan are agreed that casinos will open in the country in the next few years, it seems that submitting a bill to the current session of parliament is becoming increasingly unlikely.

Japanese Parliament Unlikely to Pass Gambling Bill this Session

As the end of the current parliamentary session approaches, it is unlikely that a gambling bill will be passed due to differences between the coalition partners.

Members of Prime Minister Shinzo Abe’s coalition partner have had some differences on how to approach the bill. The leader of the New Komeito party, Natsuo Yamaguchi, said, “I don’t necessarily think we will reach consensus on submitting the bill to the current session and moving forward with it in the limited time we have.”

The current parliament session is due to end on December 6th which means that Abe has just under a month to write a bill and have all parties agree on it. Furthermore there is huge pressure on the bill since a number of industry experts have said that Japan could become a gambling hotspot.

It is thought that Japan could become the second largest casino gambling hub after Macau and easily produce annual revenues of $10 billion. Numerous casino operators have already expressed interest in applying for licenses when the government does pass a bill.

However, even if a bill isn’t passed this session, it shouldn’t be too long as the next parliamentary session begins in January next 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.