Japan Pushing For Gaming Addiction Bill To Be Passed Before December 9
Japan is poised to finalize the framework for the Integrated Resorts (IR) Promotion bill early next year; the House of Representatives are doubling down on their efforts to pass the bill tackling gambling addiction before the current session ends on December 9.
The Liberal Democratic Party (LDP) and ally Komeito came to an agreement this week to fast track its debate on the Basic Bill on Gambling Addiction Countermeasures according to Toshihiro Nikai, Secretary-General of the current governing LDP.
Holding the majority on their chamber, the two parties want to pass the bill from the lower house to the upper house before the current extraordinary Diet session closes.
This new schedule is being pushed by the LDP and Komeito after the bill failed to cover ground when the ordinary Diet session closed in June. The bill addressing gaming addiction was first drafted on May 16 by the LDP. Ever since, the passage of the said bill has become instrumental in the journey of the IR bill in the Japanese parliament.
Currently, the gaming addiction bill does not detail ground rules and regulations for businesses, and the penalties they will incur for failing to comply with the rules. Like the original IR draft, it is basically a general mandate for the government to create a plan to stop gambling addiction, and for businesses to comply. When the bill is passed, that is when lawmakers will start creating the specific rules and regulations that gaming operators will have to comply with.
Foreign casino operators from across the globe are keeping a close watch on the gaming addiction bill and the decision that follows as they are eager to secure a casino license in Japan and be the first to enter this lucrative market. Wynn Resorts is expecting an update on these new gaming bills by the spring of 2018 and operators such as Las Vegas Sands Corp and MGM Resorts also remain hopeful that a decision will be made early 2018.
Caesars Entertainment, another suitor for a Japanese license, also revealed earlier this month that they have already submitted a proposal to develop two IR’s in Japan. Deutsche Bank revealed earlier this week that they estimate that casino market in Japan to generate between $20 to $30 billion in revenue each year and expect locals to generate the majority of this revenue.