As Japan gears up for its planned multibillion-dollar legal casino industry, a coalition of lawmakers led by the ruling Liberal Democratic Party are planning a new bill focused on responsible gambling. The move is no surprise given widespread public concern about casinos increasing gambling addiction and other social ills among Japanese residents.
According to local media, the new regulatory framework will encompass pachinko, horse racing and of course, casinos, which were legalized by the Japanese parliament in December. Expected safeguards include restrictions on length of play and the amounts wagered; operating hours for gaming establishments including pachinko parlors; limits on admission for some players; and the introduction of responsible gambling programs.
The world’s biggest gaming operators are expected to make a play for Japan, including the Las Vegas Sands Corp., Hard Rock International, Melco Entertainment, MGM Resorts International, Genting and Galaxy Entertainment. Optimistic forecasters say the market eventually could be worth as much as $20 billion a year. Some analysts have even predicted that Japan could yield $40 billion per year in annual revenues.
