Japan is currently considering the introduction of a new gambling bill as the decision which should be made today may make casino gambling legal.
The Rising Sun nation has mixed relation with casino practices. Although its financial merits are recognized, some consider them to be against their cultural habits.
A new gambling bill was presented this earlier this week, on Tuesday. Put for the by a committee of the House of Councilors, it is expected to face full chamber on Wednesday.
According to public reports, the bill has the backing of the government. Shinzo Abe, the Japan Prime Minister, and his cabinet have reportedly expressed their agreement of the new bill.
They see as a way of increasing tourists and tourism values, in general. Such a new tourism area could come to help the country’s economy, as it is flagging.
Even the mere presentation of the potential new bill was quick to produce a response. Following its announcement, equity trading gambling shares registered a higher value on Tuesday.
Amongst the most probable and already proposed casino constructions areas are a number of important cities. As such, up to 4 casinos may be built in either greater Tokyo, Osaka, or Yokohama areas.
This is not the first gambling bill submission. Back in 2013, and later in 2015, the first such proposals were advanced. They targeted the larger scale development of casino venues.
The envisioned plans saw a combination between hotels and casinos. Such venues would have also hosted conference and shopping facilities. If the bill would have passed, its regulators would have also started developing industry licensing plans.
However, previous and current gambling bills have been met with both political and population mixed reviews.
Renho, the head of Democratic Party opposition, expressed his opposition to the new bill. According to him, legal gambling should not be considered a growth industry for their nation. He feels that such practices would come in conflict with the Japanese dignity.
According to an NHK broadcaster survey, the questioned population is not happier. Whilst only 12 percent were in favor of lifting the casino ban, around 44 percent opposed it. The remaining questioned population percentage showed their indecisiveness.
However, following yesterday’s vote, the gambling bill passed by a key parliamentary section. Although it has faced fierce opposition, the bill is expected to most likely be approved.
As it gained the Cabinet Affair’s panel approval, it will potentially and probably be enacted into laws. An enacting of the gambling bill could create a high-stakes such environment.
The high values gaming areas could as such enter the world’s third biggest economy.
One of the major concerns raised by the opposition pointed out addiction problems. The country is already encountering some gambling addiction issues over its similar such legal activities.
Still, by having the Prime Minister’s approval, the bill is expected to pass. Abe’s coalition government has a strong majority in the country’s upper house.
As such, the gambling bill will reportedly most likely be approved this Wednesday. December 14 also marks the last day of the respective National Diet session.
Although the bill’s fate remains to be seen, a fact is almost certain. Estimates show that such potential casino venues will most likely not be operational during the Olympics. In 2020, Tokyo will host the Olympic Games.
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