Japanese Government Ditches Casino Plans: ReportBill To Legalize Casinos Appears Dead For Good |
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Hope for Las Vegas-style casino gambling in Japan appears to be over for the indefinite future as the government disbanded a team in charge of the proposal.
According to Asia Gaming Brief, the Ministry of Economy, Trade and Industry will no longer have a 30-member team working on the legislation. Prior to this development, there had been some possibility that the government would find a long-overdue deal this fall.
Originally imagining the casinos being open in time for the Olympics in Tokyo in 2020, lawmakers saw numerous delays over the past several years, with each delay further dimming the prospects of a potential $40-billion-a-year casino industry becoming reality.
When Japan was getting serious about casinos, it prompted Las Vegas Sands Corp., the largest casino developer in the world, to propose a $10 billion project on the island. MGM, another U.S.-based casino giant, also was eying the Japanese market.
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