More chances to legalise casinos in Japan

A majority of the Liberal Democratic Party in the Diet rise odds to legalise the activity in the Asian country.

Japan.- Despite moves to legalise casinos in Japan have been failing for the past 15 years, specialists say that chances of success have improved significantly because of political shifts, such as the Liberal Democratic Party’s (LDP) dominance in the Diet. These changes could open new doors for the gambling activity.

Whilst the public opinion still opposes casinos mainly because of the risks of gambling addiction, insiders said that political momentum has shifted in favor of casinos in a string of bills proposing the legalisation. CLSA estimates that the market could reach US$40 billion annually, the world’s second market after the United States, and companies such as Las Vegas Sands Corp and local Sega Sammy Holdings Inc already expressed its intentions to contribute to the industry.

Back in 2014, Prime Minister Shinzo Abe said that integrated resorts will be a headline attraction for the country’s growth strategy. The Prime Minister said that they’re always looking for ways to attract people from around the world. A win for the LDP was the key point that increases the chances of casinos getting the final nod: Hiroyuki Hosoda, head of the main pro-casino parliamentary group, said that there’s a near 100 percent chance of the bill being debated in the session ending November 30. Both houses of parliament are dominated by LDP, so if the bill makes it to committee, it is pretty much assured of success.

Steven Tight, president of International development at Caesars, said: “We are encouraged by what seems to be growing momentum for integrated resorts in Japan.” On the other hand, executives from Sega Sammy expect a constructive debate in parliament.