Lawmakers in Japan are working furiously to launch their new casino industry. They’re taking time with it to make sure that locals stay safe. New reports are surfacing that Japan’s casino regulator will officially be established in early 2020.
It’s excellent news for the companies looking to break into this market. Until a regulator is set in place, no gambling venues can open their doors here. Let’s look at what’s happening in this country!
Lawmakers in Japan Continue to Study the Impact of Casinos
Just a few years ago, not many would have guessed that Japan would ever make traditional casinos legal. This country was known for having an extremely restrictive set of gambling laws. Only mahjong was legal here, and anyone caught gambling illegally faced severe punishment.
In July of 2018, things took a complete 180. The government here officially legalized casino gambling. Officials made it clear, however, that no gambling venues would open in the country for at least a few years.
The government wanted to make sure that when these casinos launch, the country is ready. Lawmakers began looking at several ways to curb gambling addiction. Installing facial recognition software inside casinos to prevent problem gamblers is even being considered.
One of the main focal points for lawmakers was the creation of Japan’s casino regulator. Officials wanted to ensure that a government-run group was set in charge of monitoring the country’s new gambling market.
It was unclear exactly when this new group would begin operating. Now, it appears the government has a date in mind.
Government Sets Date for the Launch of Japan’s Casino Regulator
After months of deliberation, it appears the government has a date in mind for this new body to launch. According to government officials, Japan’s casino regulator will officially begin operating on January 7th of 2020. It’s giving many of the biggest US casino companies hope that they will soon be able to start operating in this country.
This new group has several plans. First, it will be supervising the activities of casino operators. Secondly, it will work to mitigate the potential social harms that legalized casino gambling could have on society. Up to 100 individuals be a part of this new government body.
Under regulations approved in March, casino companies wishing to operate in Japan need to obtain a license to construct their gambling hall, and a casino facility service license to operate their venues. Gambling floor space cannot make up more than 3% of the resort’s entire area.
The government here is now working to establish a final set of regulations for this industry. Politicians will need to agree on where these three casinos will begin operating officially. Eight areas are currently being considered.
A huge number of major companies are now working to break into this market. New reports indicate that Japan will grow to become the third-largest casino market in the world.
Major Companies Are Still Working to Break into This Market
Only three casino-resorts will open in this country. It’s no surprise that almost every single major casino company in the world is working to break into this country. Many of these companies are based in Las Vegas.
Las Vegas Sands is working extremely hard to open a gambling venue here. At first, officials in this company wanted to open a casino in Osaka. Later, they switched their stance and stated they wanted to operate a casino in either Tokyo or Yokohama. Despite the company’s recent scandals, it still plans to run a casino here.
MGM Resorts International and Wynn Resorts International plan to operate here, as well. All of these companies claim they will soon begin bidding to obtain a Japanese casino license.
Japan’s casino regulator will begin operating in just a few months. Soon, several gambling establishments will be available here.
Stay tuned for more Japanese casino news over the next few weeks!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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