Emphasizing jobs, economic development
With Japan’s casino bill still struggling to get out of the gate, support is coming from an unexpected quarter: the American Gaming Association.
Earlier this month, the AGA hosted a roundtable discussion with Japanese reporters in New York City. According to a statement from the AGA, the forum featured experts who spoke “on the economic benefits of gaming, the industry’s commitment to anti-money laundering practices, the importance of responsible gaming and the value of casinos as community partners.”
The AGA also welcomed Japanese Prime Minister Shinzo Abe and members of the Diet, or Japanese parliament, to Washington, D.C. May 1. Representatives of the American organization will visit Tokyo for further discussions later this month.
The AGA has taken “a leading role in informing lawmakers about the casino industry and its potential role in Japanese economic and tourism development,” the organization announced.
“AGA is serving as a critical resource for Japanese influencers and decision makers on the positive role that casino gaming has played in the United States and other global markets,” said Geoff Freeman, president and CEO of the association.
The Diet has been considering a casino bill since 2013. Opponents of the bill, including religious leaders, fear that casinos could lead to problem gambling and associated social ills. But brokerage CLSA estimates that casinos in Japan could generate annual revenues of $40 billion, creating a market that is second only to Macau and the U.S. And global gaming companies are eager to buy in. Interested investors include the Las Vegas Sands Corp. and MGM Resorts International.
The latest iteration of the casino bill is expected to be passed or passed over by August, when the current parliamentary session ends.
