VOA News – A number of countries in Asia are considering relaxing their gambling legislation to cash in on an expanding pool of wealthy gamers from the world’s most populous and fastest growing nations. This may pose a possible threat to the world’s biggest gambling center, Macau.
According to some, 2014 could be the year Japan legalizes gambling. The country’s ruling party has submitted a bill to the parliament. If it goes through, which many expect to happen, it could turn Japan into the world’s second largest gambling market.
But the country is far from the only one in Asia with its eyes on gaming. Plans to liberalize or expand the gambling industry are ongoing throughout the region.
Gambling analyst David Green said the reason is that the Asian market is still largely untapped.
He said that in Asia, home to the world’s most populous countries, people are getting old and wealthy at a record speed. “You’ve got a confluence of factors which are driving the capability of people to spend money, they all have the propensity to do it, they enjoy gambling, it is part of the culture. So there is almost an endless supply of potential gamblers,” Green stated.
South Korea currently allows gambling only in a few sanctioned casinos, of which only one is open to locals. But expansion is on the horizon.
Casino operator Genting Singapore is investing over $2 billion to develop a gambling resort. Legislation has been proposed to allow gaming on cruise ships docking on an island off the southern tip of the country.
In Taiwan gambling is legal only on offshore islands, and requires the consent via referendum of half the local population. So far, one island – Matsu – has approved a plan for gaming resorts, while another – Penghu – has rejected it.
Opponents of gambling highlight the adverse effects of a notoriously crime-ridden industry, and fear the development might pollute the environment and bring in an excessive amount of tourists.
