Business Leaders Back Bid in Japan to Legalize Casinos

A number of business leaders in Japan have expressed their support to legalize casino gambling in Japan.

With the current Japanese gambling laws in place, casino gambling is still illegal in the Asian country. However, it looks like a new bid has been set in motion to legalize casinos in Japan.

Business leaders in the country are in favor of the bid for legalization, since they believe that setting up Japanese casinos could open up what is considered to be the world’s second-largest gambling market.

Some forms of gambling is legal in Japan, with the bet on sports in Japan, like boat, bicycle and horse races, being a popular past-time, but casinos at present are still banned.

A number of Japan’s business leaders back new bid to legalize casino gaming in the country

The new bill submitted by Japan’s current government proposes to legalize resorts with hotels, convention centers and casinos.

The Japan Tourism Agency believes that the change in the law concerning casinos “will provide a spark for not just tourism, but also for the revitalization of local economies in the countryside.”

It is believed that the Japanese lawmakers will pass a bill in which the government will be asked to create a legal framework for Japanese casino, along with a subsequent bill concerning casino operator rules, which would also require approval.

The Union Gaming Group, an investment bank with a gaming industry focus, has estimated that the proposed legalization would generate $10 billion in annual revenue.