Major step for coming Japanese casino market
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New law in Japan will lay out the basic rules governing the nation's planned trio of integrated casino resorts. The Integrated Resorts Implementation Act was ratified in the summer of 2018. It will allow three disparate Japanese jurisdictions to host Las Vegas-style developments complete with casinos.
The enactment of the Integrated Resorts Implementation Act from July 19 is a major step for coming Japanese casino market. The act comes after the government of Japanese Prime Minister completed a public consultation period some ten weeks ago. Communities hoping to feature one of coming casinos will have to refine their proposed submissions. Runners in the race for a local gambling license already encompass Nagasaki Prefecture, Wakayama Prefectures and Yokohama and Osaka. They are in process of selecting a preferred foreign operating partner.
The Integrated Resorts Implementation Act covers a number of issues related to casinos, licensing procedures and background checks. It also covers how venues should calculate gross gaming revenues and what internal controls must be employed to help prevent money laundering and problem gambling.
The coming legislation is designed to be stringent to ensure the ‘integrity and safety’ of the Asian nation's coming casino industry. It will establish a raft of employee verification protocols and set out the precise definition of a gaming area.
The first of Japan's three integrated casino resorts is not likely to open before 2030. The delay is due to the outbreak of the coronavirus pandemic.
