It is estimated that if casino gambling were to be made legal over the next few years that the industry’s value could amount to about 10 billion dollars annually if major casino resorts were allowed to be built. The process could take many years with the first stage this autumn and then the introduction of legislation within two years.
At the moment casinos are not legal in Japan but that may change over the coming years. A group of over a hundred lawmakers from several Japanese political parties have come together to work on making casino gambling legal in the country. They hope to introduce laws towards the end of this year to allow casinos to be developed. Many politicians and others believe that permitting casino gambling would boost the Japanese economy.
It is claimed that casinos would increase employment both during construction of casino resorts and also when the casinos are up and running. The introduction of casinos would also attract more tourists to Japan.The hope is that legal casinos in Japan could bring in the same or even a greater amount of revenue to the authorities in the form of taxes as is the case in other Asian countries where casino resorts have been developed or are in the process of construction. The Japanese group in favour of allowing casino gambling does not wish to be left behind as other surrounding countries benefit from growing gambling industries.
Japan could even become the next main gambling centre in the world as the Japanese tend to be interested in gambling and also the country is well situated close to major cities in China from which its future gambling industry could attract tourists and high rollers. Japan has the third largest economy in the world with quite a wealthy population in general.Another plus that would support a solid casino gambling sector in Japan is the fact that while gambling is banned there are other forms of gambling that appear to be accepted in the country. Pachinko is a type of pinball game that is very popular and it generates about 200 billion dollars every year. In a similar way some forms of betting are accepted including wagers on horse racing and motor bike races.