Will Japan become the new hot spot for VIP Gamblers?

Komeito concerned about the ramifications of legalizing casino gambling in Japan.

The huge potential casino gambling market in Japan has been on every body’s lips for years. And, there is no end in sight. The legalization of casinos in Japan is once again a hot topic in the Japanese parliament. A new casino bill was introduced last week. The new bill substitutes another casino bill that was presented in the December session of the Japanese parliament.

This debate is about what will be the long term consequences of introducing mega gaming resorts under Japanese gambling laws, in the country. Japanese Prime Minister, Shinzo Abe, casino operators’ best advocate, however, needs support as he faces the wrath of Buddhist-backed Komeito Party, which is in coalition with his government. The latter is standing in the way of the bill reaching the upper chamber of parliament.

Can Abe convince the Buddhists that it is OK to gamble?

Indeed, the Komeito party thinks legalizing casino is not a very good idea as this may encourage addiction to gambling. 5% percent of Japan’s population is already addicted to betting on horses, as well as betting on boat races and bicycle racing. Natsuo Yamaguchi, a very outspoken Komeito party member, made no qualms about outlining the potential harm that legalizing casinos would cause. So this means, we may still yet be a long way off from ever seeing “full site – sign in – sign up” poker first deposit bonus on the internet, in Japan.

According to Japanese gambling news, a study carried out by a health ministry panel showed that, if the casino bill gets approved by parliament, a new Japanese casino industry could produce around $40 billion in yearly gaming earnings. This is equivalent to 6 times more than what is currently generated by the Las Vegas Strip. For years, stalwart global casino players have been promising to help develop Japan even more if the country lets their casinos in.