The controversial Integrated Resorts (IRs) bill was recently passed as law. The piece of legislation is set to introduce brick and mortar gambling establishments which have hitherto been illegal in the country. Japan’s government has long advocated for the IRs bill as one that would drive the economy. Owing to the success seen in areas like Macau and the Las Vegas strip, this new regulation is expected to follow in the same direction. According to Yoshida Suga, a top government spokesman, Integrated Resorts are not only going to focus on casinos but also high-end resorts with all the vacationing facilities to rival the top destinations. This is supposed to be a well-deserved boost to a rather stagnant economy in dire need of a new lease of life.
Bringing a Las Vegas-styled casino to the main land of Japan has always be touted as the next big step for casino gaming. However, Japan has always remained apprehensive owing to the gambling problems the country is known for.
Potential for big earnings
Japan has always been one of the prime destinations for gaming in Asia, even with casinos banned. The country has a robust appetite for everything gambling including slot machines, pachinko and horse racing. Its closeness to gamblers from China and a population with sizeable spending power also make it a gaming hub with great potential.
Economists weighing in on the matter corroborate all these predictions with astronomical numbers for annual earnings. After some number crunching, it is estimated that the casino industry in Japan could rake in 2-3.7 trillion yen a year, which roughly translates to around 46.4 billion dollars on the high end.Read more about Japan online casino at https://www.Japan-101.com/オンラインカジノ
Potential hiccups for online casinos
All parties involved in the new casino regulations in Japan are elated at the progress made with the passing of the IRs bill. Everyone stands to make substantial profits once everything is in place. As a matter of fact, a few big-name companies in the casino business have been thrown around as potential licenses owners for the new casinos. However, one section of casinos that may not welcome this news as much is online casinos.
While brick and mortar casinos may be banned in Japan, the online alternatives accept Japanese players and their popularity has been on a steady rise. With the new regulation, it is likely that they may have to give up a section of their earnings due to new taxation laws that are set to be put in place.
Online casinos that did not have to pay anything for allowing Japanese players may find themselves paying. Even so, the structure of gambling is bound to keep most of the players online at least for the most part. The legislation is quite strict about how Japanese locals can enjoy these yet-to-be-built establishments. The bill has put a restriction for the number of days in a week and a month that players from Japan can enjoy some wagering at these establishments. This effectively means the online front still remains just as relevant as before.
Whether the new casino legislation proves a problem for online casinos, or improves the number of tourists to the country, the truth of the matter is Japan desperately needs an idea of this sort. There is not much to talk about in the way of economic stimulus and this might be the help the country needs.