Japan’s plans to open the country to casino gambling have been postponed again, three people familiar with the process told Reuters. This hurts the government’s hopes of opening its first integrated resort in time for the 2020 Summer Olympics in the capital Tokyo (pictured).
Reuters reported that pro-Casino lawmakers plan to abandon the idea of discussing the casino revitalization bill this month and start discussions in November, citing two people directly involved in the process and a third person briefed on the deliberations.
On Monday, a memo from Union Gaming Research Macao Ltd said Japan was “down” in its chances of passing a revitalization bill by the end of the current parliamentary session on Nov. 30. The report cited the recent resignations of two members of Japan’s Prime Minister Shinzo Abe’s Cabinet and said it would “make it more difficult for Abe to push his agenda efficiently, including through the push to legalize games.”
Such legalization will be a two-legislation process. After a bill called the Integrated Resorts (IR) Bill, which allows for the principles of casino resorts, is passed, a second bill is expected to be introduced detailing details including how casino resorts are managed and regulated.
Las Vegas Sands Corporation, MGM Resorts International, as well as large casino operators in Las Vegas, including Macau operators Galaxy Entertainment Group, Melco Crown Entertainment and SJM Holdings, have all expressed interest in the Japanese market.
Delaying the passage of the IR legislation until the next session, expected to begin in early 2015, would make it less likely the casino resort will open in time for the Tokyo Olympics, as multibillion-dollar projects are likely to go ahead and are complicated.
A group of lawmakers supporting the IR bill had earlier agreed to introduce several changes to the bill to gain support from Komeito, a minority party backed by Buddhist movements that fears casinos would harm Japanese society. The pro-casino lawmakers said casinos should be open only to locals but only to residents who meet certain criteria. 실시간 바카라사이트
The Komeito’s support is seen as crucial to the bill, as Abe’s Liberal Democratic Party does not have a majority in the upper house. However, many Komeito lawmakers are still opposed to the bill.
Sheldon Adelson, chairman of Las Vegas Sands, said earlier this month that his company would not be interested in investing in Japan or other countries for foreigners only. “We cannot do that. Our business model will not allow that,” Adelson said during a conference call with analysts.