What is the future of Casinos in Japan?
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After the Second World War, Japanese legislation prohibited gambling on Japanese territory. However, the first casinos could be built in the next 5-6 years.
In December 2016, Japanese politicians allowed the establishment of gaming establishments in the country. The leaders are convinced that their country can become a leading destination for gambling tourism in long term. If the capital is expected to attract a lot of people for the event, it will be up to the casinos to draw high-end clients.
Lawrence Ho wants to build a casino in Osaka. The first one is not expected to open before 2023 or 2024. It is still unknown who will own it and where it will be built. It's popular with Chinese population and offers lower property prices than other major Japanese cities.
The ban on gambling in Japan is about to be overturned. The cities of Tokyo and Osaka are already in the sights of MGM Resorts International, Las Vegas Sands Corp, Melco Crown Entertainment and Wynn Resort Ltd. Abe is expected to present a bill in this sense. The change in legislation would increase the country’s hotel capacity for the Olympics and create jobs and generate up to $10 billion in revenue. Japan has more than 1300 rooms of pachinko games. It is hard to believe, but this is what is announced and when you know the Japanese boom, you can believe it.
The Japanese government is planning to create a gaming regulatory authority based on the American model. The main concern is to keep the notorious Japanese organized crime, the yakuza, at bay.
