Prime Minister Shinzo Abe plans to include destination casinos in a much-anticipated economic policy statement he is scheduled to deliver later this month, reviving battered hopes that a legalization bill will be passed by Japan’s National Diet in a special session in the fall.
The latest from The Wall Street Journal, citing three unnamed government officials with knowledge of the speech, is that Mr Abe, who has publicly advocated integrated resorts as a vehicle for boosting foreign tourism, appears willing to elevate them into policy.
“Though it isn’t final, the latest draft of the economic package states the government will start discussions on the subject,” one of the officials said.
The officials said the government initially thought about including casinos in the first batch of economic growth measures announced last year but omitted them at the last minute as some cabinet members expressed concerns about low public awareness of the industry and its potential benefits.
“I guess they have judged the timing is now ripe,” another of the officials said.
Optimism within the industry was soaring earlier this year when the Diet coalition led by Mr Abe’s Liberal Democrat Party introduced a legalization bill that was reported to have broad cross-party support. Then the bill never made it to the committee discussion stage, apparently preempted by other legislative priorities, and looks now to be a long shot for consideration in both houses of the Diet in time for the end of the regular session on 22nd June.
An A-list of global operators have stated their interest in investing billions in a market some analysts believe could be worth US$40 billion over the next decade, anchored by two megaresorts, one each in Tokyo and Osaka. Osaka has aggressively courted that interest, while Tokyo’s new governor, Yoichi Masuzoe, a popular independent, has been cool to the idea, recently stating that casinos are not an economic priority for his administration.
Supporters in the Diet, meanwhile, are still aiming to bring the bill up for discussion before the session ends, according to the Journal, presumably ensuring it higher priority in the coming autumn session. Lawmakers in charge of handling the bill will meet tomorrow to decide whether to give the go-ahead for debate, the newspaper said.
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