Yesterday, the Government of Japanese Prime Minister Shinzo Abe presented the lawmakers from the Liberal Democratic Party, which is currently the country’s ruling party, with a plan to set an increased casino entrance fee to local residents. The major topics which were discussed at the Liberal Democratic Party lawmakers’ meeting also included rules on levy payments that have proposed to be imposed on casino operators to the country. Prime Minister Abe’s Government is also focused on setting the number of places where casinos would be allowed to be constructed.
Under the Government’s proposal, which was filed at a meeting aimed at working on the new casino gambling bill, Japanese residents would be allowed to enter a casino in return to ¥2,000, which amounts to about $19.
In order for the new bill that is to give the green light to operating casinos at so-called integrated resorts to come into effect, the Liberal Democratic Party and its junior coalition partner Komeito need to first give their approval. Then, the bill is required to be submitted to the Diet session in March 2018. Under the provisions of the proposed piece of legislation, Japan is to finally open its gambling market to casinos, with the latter being allowed to operate within the so-called integrated resorts which include hotel and other entertainment facilities.
Tighter Regulatory Regime Considered by Japanese Government
The country’s Government has shared its willingness and hopes to use casinos to attract more foreign visitors over the upcoming years. Now, it revealed its intention to charge a casino admission fee of ¥2,000 for Japanese residents regardless of their nationality, while there would be no casino entrance fee for foreign visitors.
For the time being, most overseas casinos do not collect admission fees. However, the sources close to the Japanese Government have revealed that it planned to adopt the casino admission fee as part of its finance measures aimed at gambling addiction prevention. Casino operators would not be given the chance for a fee discount.
As previously reported by Casino Guardian, the Integrated Resort Promotion Law which was passed by the Parliament in 2016 put an end to nation-wide ban on casinos and permitted casino gambling venues to operate as part of the so-called integrated resorts. However, further legislation is required in order to more detailed provisions to be set as far as casino operation is concerned.
Most recently, the US banking group Morgan Stanley commented on the Japanese lawmakers’ plans in terms of Integrated Resorts Casinos, saying that larger restrictions on the resorts could fend off foreign investors from the country. Also, according to Morgan Stanley’s projections, the first Integrated Resort Casino could open in 2023 or 2024. The banking firm’s note follows the meeting between Government officials and governors of four prefectures with members of the ruling Liberal Democrats and Komeito.
- Author
Daniel Williams
