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What is the Japanese IR Casino Bill

by Staff writer
25 Jun 2020 at 16:59hrs | Views
Across the planet, the growth of the online casino business has brought gambling to the forefront of political, economic and social conversation once more.

Whilst some nations have fully embraced the gambling revolution and have seen a massive economic boost as a result, others have been more reluctant.

Japan, a deeply conservative nation where gambling is still frowned upon in many cases, appears to be warming to the idea of legalizing some forms of gambling. Now, the Integrated Resorts (IR) bill may be the break that many in the casino industry hoped for as a trio of new resorts are touted to go up in locations across Japan. These casino-hotels will hope to usher in a golden era of gambling in Japan and you can learn more about the bill by clicking here.

In this article, we will assess the question; what is the Japanese IR casino bill? From the ins and outs to the bill itself to the potential economic impact, we will take a deep dive into this exciting development.

So, without further ado, let's take a look at the first items on our list and find out what exactly the IR bill is.

What is the Japanese IR casino bill?

Recently, the Japanese government has been discussing the possibility of constructing three new Integrated Resorts across the nation in a bid to sow the seeds of big gambling.

Right now, gambling works in a kind of no man's land in Japan, with plenty of politicians in the nation still against full legalization due to prevailing conservative and traditional values.

If it is passed, many hope that the IR bill will kindle the flames of a gambling revolution in Japan. Many experts predict that the nation could become the world's third-biggest gambling market after Macau and the US. This is not completely crazy because, with a massive market in traditional pachinko games, it is clear the Japanese people love to gamble!

The local governments of Hokkaido, Chiba, Tokyo, Yokohama, Nagoya, the prefecture and the city of Osaka, Wakayama Prefecture and Nagasaki Prefecture have so far expressed an interest in building an integrated resort.

What might the Japanese IR casino bill do for the economy?

For many in Japan, especially those politicians on the fence, the IR bill is seen as an opportunity for economic expansion in the nation. The reality is that three new IR's would muster many thousands of jobs and potentially billions of dollars of annual turnover. On top of this, if the IR bill passes and, as is hoped, Japan soon legalizes online casinos, then the long term economic impact could be enormous.

For centuries, Japan has been rivaled in the East Asia region by China. Nowadays, the miracle of the Chinese economy is well known and Japan will need to innovate in order to keep pace. As a mineral poor nation, Japan has been able to innovate in the field of technology and industry in order to remain a top-tier economy. Many hope that this will soon extend to gambling, which has the potential to earn billions each year for Japan.

Certainly, the IR bill will help attract tourists from across Japan and Asia. If guests come to spend money at the new casinos, then evidence of the economic power of gambling will be clear and it should only be a matter of time before online casinos are legalized.
Source - Byo24News