The final meeting to create a regulatory framework for the operations of casino complexes by a group of politicians was held on Monday. It is likely that an entry fee would be imposed on Japanese nationals along with other measures to restrict their access to casinos as per the panel proposals. The said proposals could result in reduced investments by major operators, or some may back off completely from the investment plans completely.
Another suggestion to be included in the set of the recommendations would be a limit on the maximum casino floor space. Under this rule, the casinos would only be allowed to occupy 15,000 square meters of space, which would be too small to justify massive investments.
Japan legalised casino gambling in December 2016and the government is going to implement a regulation plan at earliest to meet the late 2017 deadline. The government is initially expected to allow two integrated resorts with each having one casino facility; the two properties are expected to generate $10 billion in revenue.
Many companies are eager to invest in such a property in Japan. However, with these limitations, many companies may call off or change their investment plans in Japan. The casino market could be at serious risk which was expected to enhance the tourism and economy in Japan.
The proposal came as the government’s bid to restrict the locals from excessive gambling by introducing an entry fee and the requirement for them to present their My Number ID cards.