Japan’s First Casino Resort Expected to Receive Government Approval
Japan is known for its rich culture, stunning landscapes, and advanced technology. However, the country has been slow to embrace the world of gambling. That is all about to change with the expected approval of Japan’s first casino resort.
The Japanese government has been considering legalizing casinos for several years as a way to boost tourism and stimulate economic growth. In 2018, the government passed a law allowing for the establishment of integrated resorts (IRs), which are large-scale casino complexes that include hotels, restaurants, and other entertainment facilities.
Several international casino operators have expressed interest in building IRs in Japan, including MGM Resorts International, Wynn Resorts, and Las Vegas Sands. However, the government has been cautious in granting licenses, with concerns about problem gambling and organized crime.
The first IR expected to receive approval is the project proposed by the consortium led by MGM Resorts International and Orix Corp. The $9 billion project, called “MGM-Orix IR,” will be located in Osaka, Japan’s second-largest city.
The MGM-Orix IR will feature a 2,500-room hotel, a convention center, a shopping mall, and a casino with 2,500 slot machines and 500 gaming tables. The complex will also have a theater, a museum, and an artificial beach.
The project is expected to create thousands of jobs and generate billions of dollars in revenue for the local economy. It is also expected to attract millions of tourists from around the world.
However, there are concerns about the potential negative effects of gambling on society. Japan has a high rate of problem gambling, and some fear that the introduction of casinos could exacerbate the problem.
To address these concerns, the government has implemented strict regulations for IRs. Casinos will be required to limit the number of visits by Japanese residents to three times per week and ten times per month. They will also be required to implement measures to prevent problem gambling, such as self-exclusion programs and counseling services.
In addition, the government has imposed a high entry fee of 6,000 yen (about $55) for Japanese residents to enter casinos, while foreign visitors will be allowed to enter for free.
The approval of Japan’s first casino resort is a significant milestone in the country’s history. It represents a new era of economic growth and international tourism. However, it also highlights the need for responsible gambling practices and the importance of addressing the potential negative effects of gambling on society.
As Japan moves forward with its plans for IRs, it will be important to balance the benefits of economic growth with the need to protect vulnerable individuals and communities. With careful planning and regulation, Japan can create a thriving casino industry that benefits everyone.
