Japan Casino Legalization Efforts Likely DeadNo Hope For Casinos In Country For 2020 Olympic Games |
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Efforts in Japan to legalize casinos and see them constructed in time for the 2020 Olympics in Tokyo are likely drawing stone-dead, according to a Tuesday report from Reuters.
Lawmakers are preparing to indefinitely postpone the controversial casino bill.
The reason for the lack of success? Time and political capital were apparently in short supply.
Supporters of the bill still want to keep it on the table, the report indicated, but it’s unlikely to move anywhere next year as well. Legalizing the casinos in 2016 would be too late to get things ready for even one to be open in time for the Olympics. Casino firms were willing to invest billions in order to capitalize on the tourism boom that comes along with the Olympics.
Japan would still be a lucrative market in the future, but casinos not being ready for the Olympics is a huge setback for casino developers eyeing the country. The motivation to bring Las Vegas-style casinos to Japan is going to take a huge hit.
The report added that just a few weeks ago most analysts were expecting the casino bill to pass this year, so the news this week can be seen as an unexpected blow to the industry.
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