Japan Considers Lifting Ban On Casinos To Compete With Nearby Macau and SingaporeStudy States Japanese Casinos Could Create $44 Billion Industry |
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According to the Las Vegas Review Journal, Japan is considering a proposal to lift a ban on casinos that would allow resorts and hotels to offer slot machines and table games in an effort to compete with nearby Singapore and Macau, two regions who are generating impressive revenue thanks to an increase in gamblers.
Japan legislators have argued in the past that casinos fuel organized crime, but lobbyists for the law change have pointed to neighboring countries and their reported economic growth, which would not only bring in tax revenue, but also create jobs for a country with 128 million residents.
A 2009 study by Ryosaku Sawa, an economics professor at Osaka University, states that Japan has the potential to turn into a $44 billion industry.
Las Vegas Sands, Genting, MGM Resorts and Caesars Entertainment have all expressed interest in Japanese properties should the law change.
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