Japanese lawmaker Takeshi Iwaya, a proponent that is leading of casino legalization: ‘It’s best to hit although the iron is hot!’ (Image: JapanDailyPress.com)
The planet’s casino leaders is closely watching developments in Japan in a few days since the country’s parliament known as the Diet is expected to begin debating a bill that seeks to legalize and regulate land-based casino gambling. Japan sometimes appears being a sleeping giant of the industry: it’s estimated that a casino that is regulated here could eventually generate $40 billion in income yearly, which would make it the next biggest in the world, after Macau. And Japan’s politicians are wanting to find new ways of revitalizing the economy and cash in on the future Tokyo Olympics in 2020.
Strike As The Iron is Hot
The nation’s ruling Liberal Democrat Party submitted a bill to parliament in early which is backed by a group of more than 200 lawmakers december. Additionally, Liberal Democrat Takeshi Iwaya, a leading proponent of the bill, said he had recently secured support for the bill from a coalition partner and people of the main opposition party.
‘We are approaching debate that is starting’ he stated this week. ‘It is best to strike while the iron is hot.’
Meanwhile, Prime Minister Shinzo Abe has been visiting casino resorts in Singapore, where he indicated their interest in the positive effect that such ventures could have on the Japanese economy.