The Prime Minister of Japan inaugurated a new task force that is set to make recommendations on licensing.
Japan.- Prime Minister of Japan Shinzo Abe inaugurated a government task force that will work with licensing and operating IR. The regulatory body comes after multiple promises from Japanese officials to address problem gambling.
“The world’s highest standards of casino regulations will be introduced, and policies to deal with issues like gambling addiction will be addressed. This will create clean, Japanese-style integrated resorts,” said Abe, who will head the panel along with the Chief Cabinet Secretary Yoshihide Suga. According to Japan Times, the task force will also bring experts such as economists, lawyers and analysts in order to discuss all issues regarding casinos, as well as financial and tax problems. Furthermore, the group will be in charge to seek a way to keep illegal activity away from gambling facilities, and prevent money laundering.
Restrictions regarding advertising will also be considered and discussed among the officials. Last week, it was revealed that the government was working towards more restrictions on existing gambling modalities such as racetracks and pachinko parlours, where Japanese players gambled approximately US$210 billion in 2015. Associate professor in the department of international tourism at Toyo University Kazuaki Sasaki, said: “Companies in any sector prefer to regulate themselves – being bound by legislation is bad for business. Although the increase in costs will hurt the industry in the short term, they’re necessary to ensure its long-term survival.”