Lottery would fund Tokyo Olympics

Tokyo lottery revenue could be partly destined to funding 2020 Tokyo Olympics and Paralympics.

Japan.- Tokyo authorities are planning to destine local lottery revenue to develop the 2020 Tokyo Olympics and Paralympics. According to The Yomiuri Shimbun, the metropolitan city government would invest US$315 million to the Olympics fund in order to help covering the total amount of US$12 billion expected to host the international games.

The special takarakuji lottery would be used by the Tokyo and non-Tokyo local governments that will host the 2020 Tokyo Olympics and Paralympics, if the “national council on takarakuji lotteries for local municipalities” approves the plan. The strategy was also used during the 1998 Nagano Winter Olympics, as reported by the local newspaper.

47 prefectures and 20 ordinance-designated cities will operate the special lottery. 50 percent of the revenue would be destined to winning payments, whilst 40 percent would be used to fund the Olympics. The income would also help covering the billionaire cost.

“Properly speaking, there is no need for the prefecture to shoulder any of the operating costs,” a spokesperson said to The Yomiuri Shimbun. “If we make that joint request, it would mean accepting the prefecture has to pay some costs.”

“In reality, the local governments’ financial burden will disappear, so we will continue to ask for their understanding on this issue.”