Japan addresses debate on IR law
The Congress of Japan is debating the IR Implementation Bill.
Japan.- The Congress of Japan is finally addressing the IR Implementation Bill to determine the future of a casino industry in the country. Regulation on the Japanese market is highly anticipated by investors around the world as it is set to be one of the most profitable markets at international level.
According to AGBrief, “enthusiastically Pro-IR elements in the LDP want to expand the number of IR licenses to be granted in the first round to about five. Komeito has responded firmly that three is the most that it can accept.”
Integrated resorts may be getting close to becoming a reality in Japan as the submission of the IR Implementation Bill draws near. The general bill on casinos cannot take effect until the Congress passes all regulations regarding gambling prevention, license process and gaming taxes, among other things.
Despite usually discussing the national budget for the fiscal year each time the ordinary session begins, the government wants to have the bill passed soon. As a result, the bill is set to reach the House of Representatives this month once it gets cabinet approval. The ordinary session of parliament is due to end on June 20th; the IR Implementation Bill may therefore be passed sometime between April and that date.
