December 28, 2016 / by: Gray Peterson
After the bill to legalize casino gambling in Japan was passed, it came into effect on Monday, December 26th. Despite the fact that the law allows operators to offer their services within the country’s borders, any construction of gaming venues will have to wait until another legislative law is passed and effected.
Japan is likely to have its first land-based casino by 2021 if the legal process progresses as planned. The construction awaits the lawmakers to pass the implementation bill, and it is believed that this process can take up to a year. The bill also needs a request for the concept and that for proposal, procedures which are expected to take around six months to be through.
If legalization is referred by a promotion bill which is similar to the piece of legislation adopted on Monday, it doesn’t do much. It needs an implementation bill to be enacted into law so that it can address important matters such as location, number and how the future casinos will operate.
Residents not entirely happy with these developments
Gambling experts and analyst point to the fact that the Japan’s gaming market is expected to sustain two major integrated resorts in two locations (the large metropolitan areas, possibly in Osaka, Tokyo, and Yokohama).
Word on the street is that even though the bill received the required backing of the lawmakers, it is not popular with a greater percentage of the population. It is imperative to remember that the casino legislation has always received support from the sitting Prime Minister, Shinzo Abe as well as that of the ruling Liberal Democratic Party. According to the recent polls conducted by Japanese news agency Kyodo news, the governing party top officials’ public support has plummeted by almost six percent after the bill was implemented.
Experts suggest that most of the residents are more concerned with the effects that gambling might bring, especially cases of gambling addiction which may increase once the land-based casinos are opened.
Another poll conducted by Japanese National Public Broadcaster NHK indicated that only 12% of those interviewed are for the launch of integrated casinos in Japan. However, 44% of the residents interviewed were against the recent move saying that it may bring more harm than good.
The legislators have, however, pledged to address the concerns of addiction by implementing certain safeguards that will be focused on protecting and securing the most vulnerable members of the society.
Despite, the many concerns aired by residents, it is believed that Japan can transform into a gambling powerhouse, with its physical venues generating from $20 to $40 billion in revenue annually. Its location, the increased number of visitors from China and its friendly environment are said to be the factors that will make its gambling market to surpass other renowned states and regions around the world. The construction of this casino resorts will be highly welcomed by the tourism industry since such venues are important in increasing international tourists.