Shinzo Abe, Prime Minister of Japan, has created task force, which will develop the legislative framework for the casino licensing and the gambling business controlling. The working group was formed after the repeated government’s promises to begin solving pressing issues related to the gambling sector.
“The work of the committee will allow Japan to create integrated world-class resorts. In addition, the committee will pay attention to the issues of responsible play, “said Shinzo Abe, who headed the committee together with Chief Cabinet Secretary Yoshihide Suga.
According to the Japan Times, to discuss issues related to finance and taxation, the committee will involve external experts. The fight against illegal gambling and money laundering through gambling is also within the competence of the committee.
Let’s remind that in late 2016 Japan legalized casino-resorts. According to the Union Gaming analysts, it will be the second largest market in Asia, second only to Macau. Analysts predict a small decline in Macau gambling industry for the first two years after the launch of Japan’s gambling resorts as VIP customers will want to visit the new casinos. Experts find it difficult to estimate the potential size of the Japanese gaming market due to lack of important variables for analysis: whether or not locals will be allowed to gamble, the number and location of licenses, the tax rate, etc.