Japan is one of the nations which prohibits the existence of casinos. However, the laws may change this month, due to the Integrated Resort Implementation Bill (IRIB).
What Is IRIB?
The Integrated Resort Implementation Bill is a law that authorizes the building of up to three casino resorts in Japan.
Many Japanese people may concern that casinos will be the centre of attraction in a resort like the ones approved by the law. However, the gambling area will not occupy more than 3% of the entire surface.
Which Are the Pluses of This Bill?
The main supporters for IRIB are Japan’s Prime Minister, Shinzo Abe, head of the Liberal Democratic Party along with Natsuo Yamaguchi, head of the Komeito coalition party. According to them, some of the pluses this bill’s approval bring are:
- Enhancing tourism across the country;
- Economic development due to the creation of new jobs;
- Regional development.
When Will It Be Promulgated?
This year, the legislative session is Japan was extended with more than a month, from the 20th of June to the 22nd of July, so that members of the Parliament have the needed time to analyze the bill and give it a vote.
The Integrated Resort Implementation Bill was approved by the House of Representatives last month and now is waiting for the Councilors’ vote to be promulgated.
Who Will Own the Casinos?
International players in the gambling and tourism industries fight for the three casino licenses available if the IRIB is voted. Some of them are heavy names, like:
- Melco Resorts & Entertainment;
- Genting Group;
- MGM Resorts International;
- Las Vegas Sands.
Bidding for one of the three granted casino licenses will be an intense process and it will surely catch international attention.
If you want to travel in some of the newest casino resorts, be sure to check the news about Japan’s Integrated Resort Implementation Bill and stay tuned to be the first one to know about the three grand openings if the bill passes the vote this month.