The last session of the year would postpone the debate on the casino legalisation.
Japan.- Although the casino legalisation would be an imminent fact for the following semesters, Japan decided not to pass the gaming bill this last Diet session of 2016. Another delay was set after the legislators would prioritise the US Presidential election and further national issues in the agenda.
This year, the Casino IR Introduction Bill would not be approved on time, which means that the legalisation could be postponed another 2 to 3 years. However, the project is gaining further support as the time goes by. Whilst Hard Rock International, MGM and Genting expressed publicly their interests in investing in the potential Japanese markets, local politicians also revealed their agreement on the legalisation road.
The Morgan Stanley analysts commented yesterday to local newspaper that the members of the House of Representatives decided to hold the debate next Japanese spring. “After LDP pushed through the Trans Pacific Partnership (TPP) without consensus, it is unlikely to do this with the Casino IR Introduction Bill,” explained the Morgan Stanley brokerage. As the debate is postponed, so would be the entry in force of the legalisation.
The Japanese casino market would be valued at US$7 billion to US$20 billion attracting the most experienced casino operators and investors worldwide. The construction of luxury Resorts and Casinos would boost the international tourism industry, especially during certain events. “Lawmakers are hoping to have a casino open just after the 2020 Olympics to support the economic activities and visitation,” added the analysts.