Proponents of legalizing gambling in Japan will have to wait another year for their wish to come true. The Japanese government has decided to postpone any long term decision about the future of gambling in their country. This move is a surprise given how adamant their Prime Minister was about passing a bill to legalize gambling this year.
Prime Minister Shinzo Abe has been a strong advocate of the legalization of gambling. He believes that the benefits to the tourism industry, along with the tax benefits, would greatly improve Japan’s economy. For a country that is always looking to discover new sources of revenue, gambling would provide an incredible boost.
It appeared that the country was supporting the Prime Minister’s plans. Most polls conducted in Japan reveal that a majority of citizens want gambling legalized. However, political posturing is getting in the way of a serious decision on the matter.
The Prime Minister’s government has been dealing with a lot of issues in the past few months. A number of scandals have propped up that have given their opposition a lot of leeway in the political sector. The opposition is not happy about the notion of legalized gambling. Even though they understand the economic benefits, they do not want to deliver such a big win for the current regime.
A lot of major gambling companies are eagerly awaiting the 2015 government sessions in Japan. They want legalization to happen as soon as possible. For example, the Las Vegas Sands company, Caesars, and MGM are all in a position to open talks over mega billion dollar casino resorts in Japan. Market experts have estimated that legalizing gambling and building casinos in Japan could generate north of $50 billion a year.
Some believe it is only a matter of time before gambling is legalized in Japan, but for now the nervous wait continues.