The central government plans to postpone the Japanese casino policy, as the segment awaits for the basic regulations for the market.
Japan.- The casino industry was waiting for the basic policy for the development of integrated resorts (IRs) and will continue waiting. The government announced plans to postpone said regulations until the election in summer for the House of Councillors, the upper chamber of parliament, or later.
According to a senior government official quoted by Jiji Press, they will show the basic policy “next year.”
The authorities planned to introduce the Japanese casino policy this summer but decided to postpone them. The campaign and the elections are the main reasons and will have the industry waiting a few more months.
Osaka may be disappointed
The Osaka government announced it wants to open a casino resort before 2025. However, the Japanese IR plan may get complicated as regulations and restrictions, especially related to financing, may delay the process.
As Japan continues to discuss the segment’s regulation, several concerns continue to surge and delay the process. The venues’ size, casino floor spaces’ limits, and the number of hotel rooms, continue to trouble the authorities.
Furthermore, the tax rate of 30% to Japanese IRs that may eat into the venue’s bottom line. That way, securing financing from banks or financial institutions may not be possible.