Japanese City Of Osaka Wants First Casino License
One of the most sought after prizes in the gambling world is that of Japan. Potentially the third largest gambling market in the world, there is intense interest in gaining casino licenses to operate in this lucrative market. Although still proposals the Japanese Parliament is expected to start the debate of legalizing gambling in May.
There is a lot to play for as Japan could we follow the phenomenal success of Macau. There are many reasons why Japan is likely to live up to the hype and expectations. These include the fact that they have a wealthy population and are near to mainland China where heavy high rollers are frequent patrons of casinos.
Another major reason for optimism for the Japanese politicians embracing casinos is the fact that the Summer 2020 Olympics in Tokyo are on the horizon. The expected tourist influx would almost certainly have a massive economic impact on the gambling tax revenues.
The exact location of the firs casino in Japan is up for grabs. The city of Osaka has announced plans to invite operators to build a casino. The land proposed is Yumeshina which has about 420 acres of land available for development. Osaka is in direct competition from Tokyo to attain the prized casino licence. Osaka officials will meet on April 22 to discuss the issue according to Governor Ichiro Matsui.
Matsui is already in full campaign mode and was quoted as saying,” It’s about time that as a city we narrow down the candidate sites. We have reached the point where we need to start accepting proposals.”
If all goes well the initial bill would be passed before June and would be followed by the second bill in 2015 which would deal with the actual laws and licensing regulations for the casino resorts. The hope is that all will be up and running when the Tokyo 2020 Olympic Games commence. The facts are that the potential is real, the gambling operators are lining up to enter Japan and all that remains is the red tape in between. We will cover developments as they happen.