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Tokyo is about to legalize gambling after 15 years of hesitation

Legalizing gambling possibility discussed in Japan

The society is not ready for such a change yet. The economic situation is pushing the authorities to significant compromise. it is proposed to isolate individual places in the gambling zones during the initial transition period, near Yokohama and Osaka cities. The state regulation, as well as the establishment model, will be close to the Singapore version. It is considered the most profitable from the tax payments point of view.

According to leading experts’, the total deductions to the budget will amount up to $ 50 billion annually. The figures are quite impressive even for such developed and technologically advanced economy. Later on, the Japanese gambling industry has all chances to become the third world gambling zone, after the legendary Macau and Las Vegas. Although, of course, the new project must have a long way up to such volumes. The formal competitors offer from Las Vegas Sands Corp.

They are willing to invest in the Japanese project up to $ 10 billion for the development of the gaming industry worldwide.

The Japanese Prime Minister Shinzo Abe, who was re-elected two years ago, gradually stands for the gambling legalization. He is supported by a number of colleagues from the Liberal Democratic Party and many influential economists. The positive effect of such an initiative is obvious. From the other hand, there are enough project competitors. The Shintoism, as well as influenced on it Buddhism, is a stumbling block, causing public opinion to resist the natural course of events. Another important factor, which should be taken into consideration, is the approaching Summer Olympics in Tokyo in 2020. Image or taxes? We will see what the Japanese electorate choose. The nearest discussion in the Parliament will be held in a week.

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