Global casino operators are bending over backwards to get a piece of the future Japanese casino industry, but they may have to wait just a little bit longer.
Union Gaming Analyst Grant Govertsen believes Japan is unlikely to develop a framework of regulation for casino gaming until the fall and it will likely be an ‘October or November’ event.
The Japanese Diet passed its Integrated Resorts Promotion Bill in December, after years of mulling the issue, paving the way for the opening up of a market with the potential to become the second biggest in the world, after Macau. But Japan has not regulated casino gaming, not yet, at least.
The Integrated Resorts Bill was an enabler, giving the Diet a 12-month deadline to prepare a framework of regulation, which will lay down licensing requirements and measures to protect problem gamblers from using casinos.
No Movement in Spring
With the Diet’s ordinary session getting underway nice and early, on January 20, it was hoped that process would begin soon, but not so fast, says Union Gaming Analyst Grant Govertsen. There is unlikely to be any movement on regulation during the spring session, he said in a note this week.
‘Rather, we think the Diet has already made the decision to handle the IR bill during the fall special session, suggesting that it is more likely going to be an October or November event,’ Govertsen said.
Prime Minister Shinzo Abe’s ruling Liberal Dem Continue reading “Casino Developers Will Have to be Patient on Japanese Regulation, Says Analyst”