Japanese Gambling Bill Passed in Lower House Cabinet Committee

Gaming industry shares skyrocketed after the Japanese gambling bill was passed in the Lower House Cabinet Committee.

As we reported last week, lawmakers were debating over casinos in Japan. According to Japanese gambling news, the casino bill was approved by the Lower House Cabinet Committee on Friday. As news spread, Japanese gaming shares skyrocketed. Experts and analysts say that the first resort could open around 2023. Liberal Democratic Party lawmaker, Takeshi Iwaya, said that they’re thinking of “complex entertainment facilities” instead of simple casinos.

Less than 10 day for the Japanese Gambling Bill to be passed

If the bill passes the full House, further legislation is excepted in 2017, creating a clear regulatory framework. After passed in the Lower House “the bill will move to the upper chamber of the Diet. The bill would need to be passed by both chambers prior to the end of the current legislative session on December 14,” meaning that there are less than 10 days to pass the Japanese gambling bill. Politicians and lobbyists highlighted, if the bill is not passed in this session, the interest of investors is likely to drop as the debate has been fruitless since the late 90’s.