Japan will authorise three land-based casinos

If you are a loyal reader of this blog, you will probably know that Japan has been working on a law to legalise casinos in their territory for several years now.
The Tokyo Olympics in 2020 appear to have accelerated the process, since the new law has been submitted to the Parliament.
In recent news of the Nikkei newspaper we learned a little more about it.
According to sources, it is said that the government wants to select 3 places out of 20 possible locations that have expressed interest in this type of establishment.

In the next session of the Parliament

Although the legalisation of casinos in Japan has been delayed, a group of legislators hopes to get the project going during the next session of the Parliament.
Nevertheless, the details of the text are currently still under discussion.
Some sources stated that the country would accommodate three casino complexes on the model of those in Singapore.
These establishments may then only allow entry to Japanese customers if they pay a fee, which should be less than the $100 that are charged in Singapore.

Boosting the economy and tourism

The Prime Minister Shinzo Abe includes casino complexes into the context of an overall strategy for growth and revitalisation of the economy and tourism in Japan.
He expressed support for such establishments, after he visited two of them in Singapore in May.
He stated that casinos should provide a major contribution to tourism, industry and the economy of the country, and that they could even become one of the key elements of the growth strategy of Japan.
Some experts believe that opening these types of establishments could place the Japanese gaming market at second place in the world after Macao.

In Osaka, Okinawa and Yokohama

More than 20 cities have currently indicated that they would like to host a casino to boost tourism, employment and the local economy.
Although the government has not yet confirmed the location of future facilities, the Nikkei newspaper estimated that first choices might be Osaka (the second largest city in Japan), Okinawa (a popular tourist destination) and Yokohama (a suburb of Tokyo).

Some forecasts

Some financial analysts of Fitch Ratings believe that the casinos in Osaka and Yokohama could generate an average of $7 billion each year.
CLSA believes that all three casinos together should generate $10 billion.
Goldman Sachs Japan believe that developing four casinos could create a market worth $14.5 billion.