iGaming Business – A number of Japanese business leaders have pledged their support to a campaign to legalise casino gambling in the country. According to Bloomberg, the legalisation of casinos in the country would open up what is estimated to be the world’s second-largest gambling market.
Takeshi Niinami, chief executive officer of Japanese convenience store chain Lawson, and Shingo Torii, executive vice-president of brewing and distillery group Suntory, are amongst those forming a group to support a legalisation bill introduced by lawmakers
Submitted by Japan’s ruling party last month, the bill would legalise resorts that combine casinos with hotels and convention centres.
Betting on horse, boat and bicycle races is allowed in the country, but casinos remain banned under current law.
Hiroshi Mizohata, the former head of the Japan Tourism Agency, is also a member of the group and said that the legalisation of casinos “will provide a spark for not just tourism, but also for the revitalisation of local economies in the countryside”.
Mizohata said that the group would now work with lawmakers to support the bill, make policy recommendations in collaboration with local governments and companies, and advocate for legalisation to the public.
The organisation also plans to recruit members from local governments, business lobbies and companies, and will be financed by membership fees. According to Mizohata, funding from casino operators will not be accepted.
The group will hold a predatory meeting on February 5 and will officially be formed in the second quarter, perhaps in May.
Lawmakers said they intended to pass a bill asking the government to create a legal framework for casinos in the current session of parliaments. A subsequent bill in relation to casino operator rules would also need to be approved.
Gaming industry-focused investment bank Union Gaming Group estimated that the legalisation of casinos in Japan could generate $10 billion (€7.3 billion) in annual revenue.
