Japan to introduce responsible gambling bill
Japan’s ruling party is planning on introducing a bill focused on responsible gambling.
Japan.- Only three months later after the casino legalisation took effect in Japan, the country’s ruling Liberal Democratic Party (LDP) along with a coalition are planning the introduction of a new bill that is set to be focused on responsible gambling.
Back in January it was reported that both casino operator companies and municipal companies had the same goal in common: they would contribute with a complete legislation project against gambling problems among casino, pachinko and horse racing operations. This new bill will reunite all those modalities and it will also include measures to regulate the number of horse racing events, as well the sale of betting tickets.
Moreover, Japan’s central government and local authorities would be forced to promote responsible gambling, and methods for casino resorts to prevent addiction are also being discussed. LDP is set to complete the discussion subject by the end of March. Specialists said that it is estimated that the Gross Gaming Revenue would exceed US$10 billion from the get-go countrywide. LDP lawmaker Ryosuke Kozuki said that hosting casinos will play an important role in helping realise the Prime Minister growth strategy of drawing 40 million tourists annually by 2020. They also want to create facilities that combine shopping malls, entertainment facilities and large conference halls.
Sources revealed earlier this year that initially there will be only three licenses issued in Japan, which will be announced in two years. Credit-debt watcher Fitch Ratings sported that gambling jurisdictions across the Asia-Pacific region will not likely be affected by the future opening of multi-billion dollar casinos in Japan. Worries about casino cannibalisation in the region are apparently unfunded since the firm says it won’t be triggered. On the other hand, Vicky Melbourne, the ratings agency’s head of Industrials, Property and Consumer for South and Southeast Asia, explained that the outcome of each gambling jurisdiction depends on the products it offers in their respective area.
