Japan divided on IR bill’s details

Lawmakers are optimistic on the IR bill being passed before the current Diet session ends on June 20th but are divided on some topics.

Japan.- The Integrated Resorts (IR) Implementation Bill is one of the main topics for lawmakers in Japan as they race against the clock to pass it before the current Diet session ends on June 20th. However, despite the ruling coalition’s intention to push for the project and its optimism around its chances, politicians remain divided on some details.

“Cooperating with the LDP and the opposition, we would like to have both bills passed in both the Lower House and the Upper House before this session ends on June 20,” lawmaker Kiyohiko Toyama (head of the IR team for the Komeito Party) said at a panel in Japan Gaming Congress. However, there are concerns regarding requested amendments and other political priorities that could interfere with the bill’s debate.

The IR bill would regulate the casino industry and set taxation rates, licences’ lengths and the process for approving resorts. In addition, whether IRs should be placed in main urban locations (most likely to happen) or in rural regions.

During a different panel, Morgan Stanley Managing Director Asia Praveen Choudhary assessed: “IRs need to be given leeway to support funding on experientials so we get these things. Three percent of the casino floor is just too restrictive, the maths doesn’t add up.”