GAMING NEWS
Japan to have gambling legislation by end of 2013
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ollowing reports previously on Japan looking to legalise gambling within their borders, it seems almost certain that the newly installed government will move steadily forward by the end of the year to legislate for gambling in Japan. A gambling bill is to be submitted to the Japanese parliament later this year that, if passed as expected it will, will pave the way for mega resorts to be built. “Japan may be the only developed country without casinos. But we are sprinting to the finish line,” Takeshi Iwaya a lawmaker in Japan told AFP in an interview. The country has had many rumours over the years that gambling would be legalized soon, but with the current government looking to
encourage stimulus in the economy, they see gambling as one way to do this. Japan has the potential to be the biggest gambling destination outside of Macau, with projections on turnover once the industry is fully operational of some $100 billion annually. With just two casinos in Tokyo and one in Osaka, which is believed to be the first phase of gambling in Japan should it happen, expected to raise incomes of $10 billion alone. Pro gambling supporters point to Singapore for inspiration as just two casino resorts there raise a combined revenue of about US$5.3 billion in 2012.
With Japan having a population of over 120 million residents, many pushing for legalizing gambling believe this would encourage nationals to stay at home and spend their money in the countries casinos, as opposed to travelling elsewhere.
DCMS “not” closing
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umours that the Department for Culture Media and Sport which is the department responsible for gambling is being closed and have its responsibilities given to various other divisions within the government have been denied.
A report published last year by the Institute of Economic Affairs claimed that shutting down the DCMS “could save around £1.6 billion”. A spokeswoman for the DCMS said: “Unsurprisingly, Dan Jarvis doesn’t know what he’s talking about. There is absolutely no truth in these rumours of the DCMS closing. The next government spending review will happen on the 26th June and the fate of the DCMS will be made clear when budgets are announced soon after.
BUSINESSMAG • ISSUE JUNE 2013
A spokeswoman for the department said there is “absolutely no truth” in comments made by shadow culture minister Dan Jarvis which claim the department is considering shutting the DCMS to save money. According to reports Jarvis said conversations about the future of the department in its current form were “undoubtedly” taking place.
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