Japanese lawmaker Takeshi Iwaya, a proponent that is leading of casino legalization: ‘It’s best to hit whilst the iron is hot!’ (Image: JapanDailyPress.com)
The earth’s casino leaders is closely watching developments in Japan next week as the nation’s parliament referred to as Diet is expected to start debating a bill that seeks to legalize and regulate casino gambling that is land-based. Japan is seen as being a sleeping giant regarding the industry: it’s estimated that a regulated casino market here could eventually generate $40 billion in revenue yearly, which would make it the next biggest on earth, after Macau. And Japan’s politicians are desperate to find new methods of revitalizing the economy and cash in on the future Tokyo Olympics in 2020.
Hit While The Iron is Hot
The country’s ruling Liberal Democrat Party submitted a bill to parliament in early which is backed by a group of more than 200 lawmakers december. Furthermore, Liberal Democrat Takeshi Iwaya, a respected proponent of the bill, said he had recently secured support for the bill from a coalition partner and people of the opposition party that is main.
‘We are getting close to starting debate,’ he stated this week. ‘It is better to strike while the iron is hot.’
Meanwhile, Prime Minister Shinzo Abe has been visiting casino resorts in Singapore, where he expressed their interest in the positive impact that such ventures might have on the Japanese economy.