Japan authorizes plan to open its very first casino
14 April 2023
By Monica Miller
BBC News
Japanese authorities have actually authorized questionable plans to develop the nation's very first gaming resort.
The complex will open in the western city of Osaka in 2029.
Casinos have long been illegal in Japan. But a law was passed in 2018 providing exceptions to games, such as poker or baccarat, to create jobs and increase tourist.
Public opinion has actually been split, with some worried about a rise in crime and betting dependency.
Besides the gambling establishment, the 5.3 million square-foot (49ha) complex will include a hotel, conference centre, shopping center and museum.
"We hope (the casino) will become a tourism base that promotes Japan's charms to the world," according to Prime Minster Fumio Kishida.
The task has an initial financial investment of 1.8 tn yen ($13.5 bn, ₤ 10.7 bn) with US-based casino operator MGM and Japan's Orix Group each owning a 40% stake in the business.
The other 20% will be owned by local business such as West Japan Rail, Kansai Electric Power and Osaka-based Panasonic.
Officials expect the resort to draw in around 20 million visitors each year and bring in approximately 1tn yen in yearly economic advantages to the region, according to a Japanese news service.
The task was proposed years back, but it was delayed due to the Covid-19 pandemic and a corruption scandal including a ruling-party legislator who was implicated of accepting allurements while in charge of gambling establishment policy.
Japan is seen an appealing market for gambling. It is the world's third largest economy with a population of roughly 126 million.
It also has close distance to wealthy Asian bettors, particularly from China. Macau is the only Chinese city where casino gaming is legal.
A comparable plan has been sent by the Nagasaki prefecture to construct a casino at Huis Ten Bosch, a Dutch-themed amusement park.
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