Japan is growing the casino market
Japan just passed legislation that will finally allow gambling in the country. The first casino is not due to open their doors until 2023, but casino operators are excited about getting a foothold in the Japanese gambling industry. The Japanese government is expected to put a lot of rules and regulations on the gambling industry. For example, a proposed regulation would control how much space a casino could take up. Another regulation would not allow ATMs inside Japanese casino.
Proposed Regulations on Japanese Gambling
Casino operators are very weary of the potential regulations regarding gambling in Japan. The regulations and rules that are proposed could put a damper on the revenue that casinos rake in. Another proposed regulation is to make Japanese gamblers pay up to a hundred dollars to get into a casino. The Japanese would be required to play with cash while only foreigners would be allowed to use credit cards.
Lots of Profit to be made in New Japanese Gambling Market
Many casino operators are ready to set up shop in Japan to take ahold of the blooming gambling industry. The head of Melco Resorts and Entertainment made a statement that said that the company would do whatever it takes to get in the door of Japanese gambling. There is a lot of profit to be made and companies are knocking each other down to be the first in line to serve the new Japanese market.
Race to the Gambling License
Casino operators are racing one another to see who will be issued a Japanese gambling license first. Many companies are hoping to achieve a gambling license in Japan by the summer of 2018. However, with the rules and regulations of the industry still being decided, it is hard to say how many gambling licenses will be issued.
Japan is a Big Opportunity for Casino Operators
Japan is a big opportunity for many casino operators such as Las Vegas Sands. However, with the regulations of the industry still being decided, it is difficult to say which casino will be the first to be able to build a resort in Japan. On site inspections are expected in the industry that could result in the revoking of a gambling license. No gambling licenses have been issued in Japan. However, there are lots of companies that hope that it changes soon.
Following Singapore in the Legalization of Gambling
Singapore declared gambling legal five years ago and casino operators have been raking in the cash ever since. This could be the exact same deal that happens in Japan if the government decides to issue a gambling license. Gambling companies, like MGM, are just dying to get their claws into the Japanese gambling market.
Lots of Uncertainty Regarding Japanese Gambling Regulations
There is currently a lot of uncertainty when it comes to the regulations regarding the gambling industry in Japan. The future will only tell what is in store for the casinos who are trying their best to be the first issued a gambling license in Japan.
The companies want to get in
The race is on when it comes to American companies fighting to make their way into the Japanese gambling industry. Las Vegas Sands and MGM have stated that they would invest as much as ten billion dollars in Japan. Meanwhile, Melco Resorts and Entertainment made a statement that they would pay whatever it takes to get a foothold in the Japanese gambling industry.
Government Regulation Still not Complete
There is a lot of fuss and muss going on regarding the recent legalization of gambling in Japan. It is estimated that nearly three point two million people in Japan have a gambling problem. Government officials are concerned that the recent legalization of gambling will only increase this problem. The government has not fully regulated the gambling industry yet. However, many casino operators are nervous about the upcoming regulations.
Proposed Regulations Regarding the Japanese Gambling Industry
The proposed regulations would limit the amount of space that a land-based casino could use. Another proposed regulation would not allow ATMs in the casino lobby. Japanese gamblers would have to pay in cash. Only foreigners would be able to use credit or debit cards. Japanese gamblers could face a fee of up to one hundred dollars just to get into the casino. Casino operators feel that the regulations are going to cut down on the amount of profit and revenue they can rake in.
No Gambling Licenses Issued Yet
Singapore legalized gambling five years ago and the local economy has soared because of it. The same thing is hopefully going to occur in Japan. The first gambling license has not been issued yet, but the race for the title is getting tighter. The location of the first resort casino is also up for debate. Osaka and Wakayama are the front-runners when it comes to locations.
Citizens’ Concerns Regarding Gambling Legalization
Many local citizens are concerned about gambling addictions and crime rates rising with the legalization of gambling. Others, however, are hopeful about how the economy will benefit. It is estimated that the Japanese government will have fully regulated gambling by the spring of 2018 and will hopefully be issuing gambling licenses in the summer of 2018. The doors of the first casino are not due to open until after 2023. Many Japanese gamers are excited about gambling becoming legal in Japan.
Gambling Regulations Already in Effect in Singapore
Many of the regulations that Japan wants to put on gambling are already in effect in Singapore. Casino operators in Singapore have gotten along just fine with the regulations. This makes casino operators that are interested in opening in Japan breathe a little bit easier. Knowing that they can still make a profit under regulation is a great relief to casino operators. Even though there are regulations, casinos are still able to turn a generous profit. The future of the Japanese gambling industry is a mystery, but time will tell how regulated the gambling industry will be once the Japanese government has had ample time to discuss it.
A Japanese gambling license is hard to come by due to the fact that many criteria and details of the recently legalized gambling are not yet clear. In fact, the first casino is Japan is not set to open up for business until 2023. This is providing the chance for online casinos to close in on the Japanese gambling market. Most gambling casinos are hoping to obtain a license by the upcoming 2018 summer.
Japanese Gambling Licenses Expected during 2018 Year
Japanese gambling licenses are expected to be passed out for resorts in the country, but not many licenses are expected to be released. In fact, only two are expected to be released for the 2018 calendar year. Many casinos are attempting to woo the Japanese government into awarding them gambling license.
Melco Resorts and Entertainment Wooing Japanese Government for Gambling License
One of the most notorious wooers is the head of Melco Resorts and Entertainment. It has offered to move its headquarters to Japan if they are awarded a gambling license. This sounds like a bribe to most of their competition, but Melco Resorts and Entertainment has played a fair game.
Japanese Gambling Market Projects Huge Returns
Japan just recently passed legislation that would make gambling legal in the country. Many companies are trying to stand out in the crowd of casinos so that they can be one of the first that are awarded Japanese gambling licenses. The gambling market has the potential to produce huge returns for casinos. It is no wonder that so many casino companies are targeting the Japanese market.
American Gambling Companies Battling for Japanese Gambling Licenses
American gambling companies are doing their best to obtain a Japanese gambling license. The Japanese gambling industry is projected to be around twenty-five billion dollars a year. It is easy to see why American companies, such as Sands Las Vegas, are trying their best to get a foothold in the Japanese gambling industry.
Concerns Regarding Regulations in Newly Opened Japanese Gambling Industry
Many gambling companies are concerned that the Japanese government will put too many regulations and rules regarding the newly opened gambling industry. This will hurt casinos’ chances of gaining a solid revenue flow. The government is currently considering limiting the amount of space that can be used for a casino. This regulation alone could significantly cut down on the amount of profit a casino can generate.
This does not affect the online casinos companies much except for the fact that they are finally able to open up their websites to players from Japan. There are many suggested regulations on the gambling industry in Japan. Such suggested regulations include not having ATMs inside of casinos. Only foreigners would be able to use credit cards in a Japanese casino. This regulation does not appeal much to casino operators. Other regulations being considered is making Japanese gamblers pay as much as one hundred dollars just to enter the casino. While these suggested regulations are not set in stone, they are still tampering with the livelihood of potential casinos.