Japan Getting Closer To Legalizing Gambling
Macau’s undisputed success story as the world’s largest gambling hub has got its Asian neighbors looking to join the party. We reported in February on the interest of gambling companies to invest in Japan as legislators were considering relaxing gambling restrictions. This bidding wars for possible casino licenses are heating up amongst Asian gaming operators as Japan’s parliament prepares to debate a bill that legalize casino gambling.
One of the key operators is Dynam Japan Holdings Co who are eager to partner up with an Asian operator as soon as the proposed bill aimed at legalizing gambling is passed. Japan is considered potentially the third most profitable gambling market after Macau and the United states with estimates been thrown around of $40 billion annually. Casino mogul Sheldon Adelson has already stated that he would be willing to pay $10 billion to secure a gaming license in Japan.
The debate is expected to start next month and could pass by June. The chances of the bill passing are pretty good as Japanese legislators are well aware of the potential to cash in on the 2020 summer Olympic Games planned in Tokyo. Japan’s gambling potential is huge as there is a wealthy population who enjoy playing national games like pachinko that is a combination between a pinball machine and slots machine. Another reason why Japan should follow in Macau’s winning ways is their proximity to mainland China where some of the globes wealthiest gamblers are located.