Japan considers legalising gambling World Finance
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A new era for JapanFor the time being, however, the focus lies not with regulatory technicalities but with pushing a bill through parliament and gaining the necessary support from the public. After an explosive introduction to the casino business, a marked reluctance to up the ante and build on the industry’s success has turned investors off to the straight-laced Singapore market. The onset of globalisation, combined with increased average per-capita income and spending in South-East Asia, has seen the likes of Macau make a minnow of former gaming hubs such as Las Vegas. Add to that the prime minister’s ambition to make known Japan’s newfound business credentials for international firms, alongside efforts to bump up foreign tourist numbers before Tokyo 2020, and it looks as though the passage of a pro-casino law is looming large on the horizon. The pathway to legalised gambling is a long and arduous one, though few today can ignore the economic advantages it could potentially bring. The circumstances here underline the absurdity of Japan’s antigambling laws which, according to critics, are starving the country’s economy of the stimulus it so desperately needs.
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