Japan Legal Gambling Bill could be up for Vote in April

Last year, Japanese Prime Minister Shinzo Abe and the country’s ruling Liberal Democratic Party (LDP) made a strong push for legal casino gambling. However, the effort fell apart as the government session dissolved and Abe had to consider more-urgent matters. But the casino gaming bill could be back on the table sooner than expected since Abe wants to push legislation in April’s municipal elections.

Japan, which only offers pachinko parlors and small-time lotteries, has resisted the urge of legalizing casinos for centuries. However, the temptation may be too great when considering that the Land of the Rising Sun could become the world’s third-largest casino destination, behind Macau and Las Vegas. Furthermore, casino corporations are salivating over the chance to get up and running before the 2020 Summer Olympics are held in Toyko.

That said, Abe hopes to gain strong public for a legal casino gambling bill in the municipal elections. It’s been reported quite often that Japan’s government won’t legalize casinos unless the public approves. Assuming Abe can gain this in April, then he and LDP will have a better chance of convincing the Buddhist-backed Komeito party that it’s a good idea.

In the past, the Komeito party has questioned a gambling bill because they fear that it will spread addiction throughout the country. And as long as there’s no public consensus, their concerns figure to remain intact.

There’s certainly a good chance that Abe could sway the public with promises of quick money to a stagnant economy. As PokerNews reports, launching a casino-based Integrated Resorts could bring in $40 billion in annual revenue to Japan.

Potential investors already include casino giants like Las Vegas Sands and MGM Resorts. Sands Chairman Sheldon Adelson is particularly excited about the possibility as he said, “Would I put in $10 billion? Yes. Would I rather do it at seven? Yes.”

Bill Hornbuckle, the president of MGM Resorts International, also spoke favorably of investing in Osaka, where his company can create “a landmark destination attraction (…) uniquely Japanese, not a copy of an integrated resort from Las Vegas or Singapore.” So it’s pretty obvious that there are interested parties and lots of money on the table. The only question now is if the Japanese public will strongly the matter.