Japan's Casino Approvals Might Be Delayed for the 2020 Olympics
Tokyo hosting the 2020 Summer Olympics means millions of tourists and sports fans visiting Japan, looking to spend their travel money. This would provide an ideal opportunity for Japan's first casinos to open, potentially tapping into the best untapped gambling market in the world. However, there's a problem: Japanese lawmakers who support casino legalization see challenges in passing the bill during the current legislative session, which could result in insufficient time to have the casinos up and running by 2020, even if the bill eventually passes.
The Japanese Diet is presently in session, scheduled to meet until June 22. For a bill to have a chance of passing, it must be sent to the upper house of the legislature at least 20 days before the session ends. Since Monday is very unlikely to have the bill delivered, the chances of casinos getting approved during this session are slim.
Several major casino developers support the legislation. These include MGM and Las Vegas Sands, both actively supporting the bill. Shelden Adelson believes that a tour of the Marina Bay Sands in Singapore by Japanese Prime Minister Shinzo Abe could sway Abe to push harder for the bill. According to Adelson, Abe may order an aide to expedite its passage.
While Adelson doesn't perceive time as critical, MGM CEO James Muren insists it's a pressing issue. "Time is of the essence," Muren states. "There seems to be a very strong political will to move this forward. Who knows what the environment will be a year or two from now?"
The ruling Liberal Democratic Party mostly endorses the casino bill, but they don't hold a majority in the government on their own. Their coalition partner, the New Komeito Party, has been hesitant about gambling legislation. "New Komeito hasn't been a big fan of gambling bills," Iwaya admitted. "I'm trying to secure support from individual members."
The push for casinos in Japan is not a novel idea: the topic has been debated for over a decade. Supporters believe Japan can enjoy a substantial increase in tourism, similar to Singapore, by offering casinos together with its other attractions. Opponents are concerned that expanded gambling could increase organized crime's influence and enhace gambling addiction.
Lawmakers who back casinos in Japan are striving to push the bill through during the 2020 Olympics, seeing it as a prime opportunity. But they now faced the challenge of gaining New Komeito Party's full-fledged support.
Read also:
- Will Topp be the next Terodde?
- Kompany's Relation to Schenk Explained:
- Permission granted for HSV.
- Millions demanded by HSV handball athletes.
