Abe supports legalization
Japanese Prime Minister Shinzo Abe wants to legalize casinos as part of his country’s economic growth strategy, popularly known as “Abenomics.” Despite Abe’s support, the legislature has been slow to act on legal gaming. But that hasn’t dampened the enthusiasm of global operators, says PricewaterhouseCoopers partner Mark Jordan, who says Japan is still the equivalent of the Holy Grail for casino companies.
“Historically, growth in casino markets has been driven by increases in supply, facilitated through regulation, which has then helped serve unmet demand,” Jordan told InterGame.com. “The big prize that a number of operators are considering right now is … Japan, although the legislative momentum behind this appears to have slowed down recently.”
Japan’s ruling Liberal Democratic Party has pushed a plan to approve casino gaming in the country, but the bill was defeated in the ordinary legislative session last year, and analysts are uncertain if it will pass in 2016.
Abe, who has received pushback on casinos from junior coalition partner Komeito, has urged Komeito leader Natsuo Yamaguchi to endorse the bill in the next session.
The legalization of casinos in Japan would be a two-step process, reported Bloomberg News. An enabling bill would permit casino resorts. An implementation law would include the specifics, including how the resorts are administered and regulated.
