Reports in Japan say that a pro-casino group of Japanese lawmakers are pushing for plans to be submitted this year for legislation aimed at opening the world’s third-largest economy to land based casino gambling.
Currently gambling in casinos is illegal in Japan, but a large portion of the population do gamble on a pinball-like game called pachinko, which generates an estimated $200 billion in revenue each year.
Japan having a large and wealthy population along with the geographical location to Shanghai and Beijing means that Japan could become a serious gambling location in competition to Macau and newly opened Singapore.
It is estimated that Japan’s gaming market could be worth some $10 billion if two large-scale integrated resorts are approved – more than Singapore’s $5.9 billion and Las Vegas’ $6.2 billion in 2012.
The cross-party casino group aims to submit a promotional bill to parliament in the autumn, which could be followed by concrete laws within two years, Takeshi Iwaya, the deputy head of the lobby of more than 100 lawmakers said to reporters.
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