The three of the largest party in Japan LDP, DPJ, SDPJ with their politicians submitted a bill to parliament to ban gambling in casinos softened or be lifted. This is because Japan today are faced with declining revenues from taxes and a growing national debt. Most notably “ the eye-watering” figure of public debt running at 214.3 percent of GDP.
Aging population is inversely proportional to the young population of fewer, giving taxes to pay for pensions and health care costs make indications that the outlook for the Japanese economy in the future not so bright.
Some dramatic stimulus measures in an effort to get the economy running on all cylinders once again has been introduced by Shinzo Abe as Prime Minster of Japan, and plans for casinos fit neatly into that larger project. He has promoted casino resorts as part of his economic growth program, and hopes to see them operating in time for the 2020. Having it would be yet another attraction for visitors.
Results Analysis The Union Gaming Group and Merrill Lynch estimates that the casino industry in Japan will be the second largest market after Macau especially in ASIA which will reap revenue of more than 10 billion euros
The proposal which was submitted to the national Legislature of Japan “Diet” is a basic outline of the system of licensing and supervision of casinos and shows the creation of a special zone where casinos can operate, as long as the local government support.
Diet has received a proposal from the politicians, among others, on a system of licenses and supervision of the casino, and the proposed special locations where casinos can operate.
Operator’s license is also a proposal from the politicians. The license is divided into two. First Intended for large international companies. Second, for smaller venues in the suburbs or coastal areas where its market share is domestic travelers.
Regarding the specific allocation of new gambling discourse that Odaiba waterfront district in Tokyo, Osaka Mishima district, Shinagawa district of Tokyo and Okinawa is famous for its beautiful beaches.
Las Vegas Sands Corp, Caesars Entertainment Corp and MGM Resorts International have been hoping Abe would unlock an “integrated resort” market that brokerage CLSA estimated could generate annual revenue of $40 billion.