The world's leading operators regard Japan as a holy grail given the potential market size.
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.
So it's official. #Japan has legalized #casino gambling. https://t.co/kkuGlbvLE2
— magdalena osumi (@jt_mag_os) December 14, 2016
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.
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.
Noted that all the major daily newspapers in Japan, from liberal to most conservative, have editorialized in opposition to Casino Bill.
— SNA Japan (@ShingetsuNews) December 14, 2016
And newspapers across the nation have opposed the bill.
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.
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.
#Casino bill advances amid ‘side effect’ fears - The Japan News https://t.co/57ePzb45xj #カジノ法案 pic.twitter.com/zaX6CwEr0T
— The Japan News (@The_Japan_News) December 4, 2016
Here are some possible candidates for casinos locations.
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