Advertisement
Advertisement
About Our People Legal Stuff
Gambling (Pexels)

Japan made casinos legal for the first time and may make $30 billion a year in the process

Share

The world's leading operators regard Japan as a holy grail given the potential market size.
Research from CLSA, investment banking group

Japan is the third-largest economy in the world and gambling is technically legal. It also doesn't allow casinos. That changed Wednesday, after the nation's parliament approved a bill legalizing casinos.

Experts say this could create a $30-billion industry, CNN Money reports.

The bill was passed into law Wednesday.

The issue is not whether gambling facilities are allowed or not. It is about measures to deal with gambling addiction.
Noriko Tanaka, SCAG secretary-general

Big casinos like Las Vegas Sands and MGM Resorts are excited, but many locals fear gambling addiction could damage Japanese society. 

A poll by Japanese broadcaster NHK found 44 percent of those surveyed opposed to legalizing casinos, with only 12 percent in favor.

And newspapers across the nation have opposed the bill.

Vegas strip.jpg

**ADVANCE FOR SATURDAY, FEB.11** FILE ** The Las Vegas Strip lights up the night with it's casinos and resorts in this April 19, 2001 file photo. With over 5,000 people arriving monthly, the Las Vegas metropolitan area was the fastest growing metro area in the nation in the 1990s. From casino games to mega-resorts, from sports betting to headliners, Las Vegas sets the trends and Atlantic City follows them. The scale of two cities is different, owing not only to Las Vegas' early start as a gambling mecca but also to its sprawling size. (AP Photo/Matt York, File)

Prime Minister Shinzo Abe has supported the bill. But CLSA said not to expect a new "mega-resort" opening until 2023 "at the earliest" while lawmakers hash out licensing fees and other details.

Pachinko in Japan: Japan's Pinball?

WATCH  | It's technically legal to gamble in Japan, but it's limited to strictly regulated horse races and the gray area of pachinko, which has non-cash prizes exchanged for money under the table. Watch this Japan Online explanation of the game.

Here are some possible candidates for casinos locations.

Should Japan legalize casinos?

Today marks four years since the Sandy Hook elementary school shooting massacre

WATCH  | For the news you need, check out our 60 Second Circa.

Comments
Read Comments
Comments
Facebook Twitter Instagram Pinterest Linked In List Menu Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down