Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

Japan is getting closer and closer to that critical point where casino developers will lose their patience and turn their backs on any investment opportunity in the country.

Since experts estimated that Japan has the potential to become Asia’s second largest casino market, Prime Minister Shinzo Abe’s administration has been pushing for a change in Japanese gambling laws to open the door to major casino developers before the 2020 Olympics in Tokyo. With the way things are going, it looks like the big dream is not going to happen anytime soon.

For Japan, it’s not a matter of “sooner or later”. If investors don’t have sufficient time to make their plans, obtain approval and start building, the effort will not be worth it. Having a favorable regulatory system as soon as possible was crucial for the success of the country’s gambling market. It’s becoming increasingly unlikely that everything will be ready in time for the Olympics.

Reuters: Costs, politics erode chances for a Tokyo casino by 2020

Japanese casino supporters are starting to panic as plans to change the country’s gambling legislation don’t seem to be coming together. As time passes and authorities are still undecided whether to approve the new casino bill, plans to open the first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely.

Even though Prime Minister Shinzo Abe has repeatedly stated that legalizing casino games is one of his main objectives, recent gambling news say building costs are skyrocketing, and the city government is not treating casino development as an economic priority anymore.

For months, casino companies have courted the governments of Tokyo and Osaka, hoping that they will convince them to open the market. Analysts have touted Japan as one of the world’s biggest untapped markets for gambling, but authorities are still undecided.

Major casino operators like Las Vegas Sands, Genting Singapore, MGM Resorts and Melco Crown Entertainment have proposed billion-dollar plans for the area, in order to position themselves as potential candidates for a license, should the casino bill be approved.

The parliament just began its autumn session, and the casino bill should be debated. Supporters of the idea are hoping that politicians will make a decision, giving the administration enough time to approve the bill and start making plans by 2015. But costs have become an issue and the Tokyo government is considering scaling back its plans for the Olympics.

Satoshi Okabe, a senior manager at a project being developed by Dentsu, said: “The reality is that preparations for the Olympics are going to be pretty challenging. Casinos are secondary. Building costs are going to spike and foreign casino operators are going to find investment returns inefficient.”

Meanwhile, Osaka is making progress with its plans for a casino and Caesars Entertainment is still interested. “We are actively in talks with potential Japanese partners about an Osaka project,” said Steve Tight, president for international development for Caesars.

Forbes: Japan Forms Casino Task Force To Boost Flagging Momentum

At the end of August, Prime Minister Shinzo Abe’s government announced that it was going to create a task force help speed up preparations for casinos in Japan. Decision-makers have postponed the issue for a while now, but the Abe administration is hoping the task force will revive momentum for the resorts to be open in time for the 2020 Olympic Summer Games in Tokyo.

Some major gaming companies said they were willing to spend as much as $5 billion or more to build integrated resorts in the country’s largest cities, but financial experts doubt that the Japanese market is worth that level of investment.

The casino legalization bill was introduced in December 2013, but the Diet didn’t include it in its June voting session. The issue was brought up for debate just a few days before the session closed, so there is still hope that it might come up again during the special session held in autumn.

A report released by Morgan Stanley says Japan is facing many issues in its ambitions to build integrated casino resorts. Analysts Praveen Choudhary, Thomas Allen and Alex Poon have concluded that the country’s gambling market may not be as profitable as casino developers are hoping.

GamingZion: Major Casino Developers Eager to Join the $40 Billion Japanese Casino Market

Experts agree that a casino industry in Japan could potentially generate a yearly profit of $40 billion. The news has convinced the world’s largest casino developers that they must have a share of that juicy revenue, so developers like Melco Crown Entertainment, Las Vegas Sands, MGM Resorts, Wynn Resorts and Caesar’s Entertainment Group have all pledged to invest billions of dollars.

Melco CEO Lawrence Ho said the company was willing to spend as much as $5 billion on a new investment in Japan, should the new law pass. The developer sees it as the perfect opportunity to expand outside of Macau.

Las Vegas Sands, Wynn and MGM are also interested in the Japanese casino market, and Caesars Entertainment has already presented its plans for a $5 billion resort, as Chief Executive Officer Gary Loveman said the company “will have no trouble raising the finance for a world-class facility in Tokyo.”

Japan is getting closer and closer to that critical point where casino developers will lose their patience and turn their backs on any investment opportunity in the country.

Since experts estimated that Japan has the potential to become Asia’s second largest casino market, Prime Minister Shinzo Abe’s administration has been pushing for a change in Japanese gambling laws to open the door to major casino developers before the 2020 Olympics in Tokyo. With the way things are going, it looks like the big dream is not going to happen anytime soon.

For Japan, it’s not a matter of “sooner or later”. If investors don’t have sufficient time to make their plans, obtain approval and start building, the effort will not be worth it. Having a favorable regulatory system as soon as possible was crucial for the success of the country’s gambling market. It’s becoming increasingly unlikely that everything will be ready in time for the Olympics.

Reuters: Costs, politics erode chances for a Tokyo casino by 2020

Japanese casino supporters are starting to panic as plans to change the country’s gambling legislation don’t seem to be coming together. As time passes and authorities are still undecided whether to approve the new casino bill, plans to open the first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely.

Even though Prime Minister Shinzo Abe has repeatedly stated that legalizing casino games is one of his main objectives, recent gambling news say building costs are skyrocketing, and the city government is not treating casino development as an economic priority anymore.

For months, casino companies have courted the governments of Tokyo and Osaka, hoping that they will convince them to open the market. Analysts have touted Japan as one of the world’s biggest untapped markets for gambling, but authorities are still undecided.

Major casino operators like Las Vegas Sands, Genting Singapore, MGM Resorts and Melco Crown Entertainment have proposed billion-dollar plans for the area, in order to position themselves as potential candidates for a license, should the casino bill be approved.

The parliament just began its autumn session, and the casino bill should be debated. Supporters of the idea are hoping that politicians will make a decision, giving the administration enough time to approve the bill and start making plans by 2015. But costs have become an issue and the Tokyo government is considering scaling back its plans for the Olympics.

Satoshi Okabe, a senior manager at a project being developed by Dentsu, said: “The reality is that preparations for the Olympics are going to be pretty challenging. Casinos are secondary. Building costs are going to spike and foreign casino operators are going to find investment returns inefficient.”

Meanwhile, Osaka is making progress with its plans for a casino and Caesars Entertainment is still interested. “We are actively in talks with potential Japanese partners about an Osaka project,” said Steve Tight, president for international development for Caesars.

Forbes: Japan Forms Casino Task Force To Boost Flagging Momentum

At the end of August, Prime Minister Shinzo Abe’s government announced that it was going to create a task force help speed up preparations for casinos in Japan. Decision-makers have postponed the issue for a while now, but the Abe administration is hoping the task force will revive momentum for the resorts to be open in time for the 2020 Olympic Summer Games in Tokyo.

Some major gaming companies said they were willing to spend as much as $5 billion or more to build integrated resorts in the country’s largest cities, but financial experts doubt that the Japanese market is worth that level of investment.

The casino legalization bill was introduced in December 2013, but the Diet didn’t include it in its June voting session. The issue was brought up for debate just a few days before the session closed, so there is still hope that it might come up again during the special session held in autumn.

A report released by Morgan Stanley says Japan is facing many issues in its ambitions to build integrated casino resorts. Analysts Praveen Choudhary, Thomas Allen and Alex Poon have concluded that the country’s gambling market may not be as profitable as casino developers are hoping.

GamingZion: Major Casino Developers Eager to Join the $40 Billion Japanese Casino Market

Experts agree that a casino industry in Japan could potentially generate a yearly profit of $40 billion. The news has convinced the world’s largest casino developers that they must have a share of that juicy revenue, so developers like Melco Crown Entertainment, Las Vegas Sands, MGM Resorts, Wynn Resorts and Caesar’s Entertainment Group have all pledged to invest billions of dollars.

Melco CEO Lawrence Ho said the company was willing to spend as much as $5 billion on a new investment in Japan, should the new law pass. The developer sees it as the perfect opportunity to expand outside of Macau.

Las Vegas Sands, Wynn and MGM are also interested in the Japanese casino market, and Caesars Entertainment has already presented its plans for a $5 billion resort, as Chief Executive Officer Gary Loveman said the company “will have no trouble raising the finance for a world-class facility in Tokyo.”