A new report said that Japan could copy Singapore’s legislation.
Japan.- The House of Councillors of Japan passed a bill last week that paves the way for the legalisation of the casino industry. According to Fitch Ratings, the Asian country is likely to adopt regulations similar to the ones in Singapore.
The report establishes that Japan could set limited license and also a entrance fee for locals. It is expected that they could limit the licenses in major cities, such as Tokyo and Osaka, but could also include multiple smaller licenses in other locations. Each major casino could offer 500 table games and 3000 slot machines, and they’re expected to generate at least US$6 billion annually in revenue.
“ROI will likely be pressured by the anticipated high cost of development in terms of labor, materials and land. Other concerns include Japan’s high corporate tax rate (approximately 30 percent despite recent cuts); the sometimes volatile yen exchange rate; potential for South Korea and Taiwan to liberalize gambling; and lingering tensions with China,” Fitch Ratings said.