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New Legalization Proposal For Japan

Published: 
2016-10-18 00:00:00

A parliamentary committee met in Tokyo to discuss a proposal to legalize casinos in Japan.

For the first time since 1989 Prime Minister Shinzo Abe's Liberal Democratic Party has obtained a majority in the Japanese Parliament which gives them the number of votes they need to push it through.

The concern with additional delays is that legislation will fall further down the agenda as preparations for the 2020 Olympics begin. They are hoping to open Japan's first casino resort before 2023 to help revitalize the economy after the Games. The gambling industry will add an estimated $40 billion a year.

Major casino operators, such as Las Vegas Sands, Wynn, Genting and MGM, have promoted the idea of casino gaming in Japan for more than a decade. They may see this opportunity as the last before they look elsewhere.