This is the most opportune moment for the casino operators as the good potential market opens its flaws. This is because Parliament has approved the most integrated resort which includes the gambling houses. However, there are mixed feelings among the Japanese people.
Casino operators from all over the world are all vying to have their part taken from the lucrative casino business in Japan. This is due to the casino ban in the country was lifted this past week in Tokyo. As much as the Japanese parliament lifted the casino ban, they warned the people of its negative implications of extreme addiction to the sport. Moreover, they also warned the people of the extremely organised crime are revolving around the sport.
In the early hours of Thursday, the Japanese parliament approved that the casino games will be back and kicking by lifting the ban which was placed earlier. For this move by the government, it will allow the construction of casino resorts which are integrated to have the inclusion of entertainment facilities and hotels.
While they kept on moving from place to place in search of the best place to settle with this business in Australia, the Crown resort belonging to James Parker is among the numerous casinos which have the biggest potential to set foot in the Japanese casino market. These resorts have a potential to attract massive numbers of people due to their capabilities to create a welcoming environment for the gamers. According to the industry, they are also regarded as the final frontiers.
The Crown Resorts, which belong to the Packers Company, might have one of the biggest changes in business to operate in the world’s largest market for casino players. They are also setting foot in one of the largest economies in the world. For this reason, they also have one of the most attractive crack-downs in the universe. While the company set their foot in China, they got 18 of their employees arrested due to the alleged gambling crimes.
Packer owns more than 50 percent of the total shares of the Crown Company. While this is true, he still has the capability to present himself as one of the best foreign people to land their business in the country. As a matter of fact, he also has to convince the Japanese government that he has the will of the people at heart. They will also have to convince the authorities that they will integrate casinos to resorts and hospitality facilities.
According to a reporter, the Japanese authorities will have it all written to the foreign operators to follow the necessary rules to the fullest. For this reason, they must also acknowledge the fact that they will play to the rules in Japan to get the market share in this business out of their country as foreign operators.
The crown company based in Melbourne said that the company had a disposal of all heir assets in other countries. According to a spokesperson for the company, they also agreed to the fact that they will sell some of their assets and create a joint venture with another company to form the Melco-Crown Entertainment Company which will now be valued at $1.6 billion. For this reason, the company is in the middle of a special buyback distribution.
Shinzo Ame, the Japanese Prime Minister, has pushed for the lifting of the ban levied upon the casino operators for a long time. He also argued that the Japanese economy will be boosted because of this practice. He also goes further by saying that there will be an arrival of numerous tourists from neighbouring countries including China which have no gambling implications in the country.
Members of parliament of the Japanese government passed the bill while they were being warned of the negative implications it will bring to the people in the country. According to the opposition leaders, this act has negative mental health implication on the citizens of this country. Hey also went further by saying that the people need to understand that this act is a major source of money laundering activities. This is one of the biggest crimes the Japanese government is planning to dismiss through dissolving the organised crime syndicates.
Osaka, Tokyo, and Yokohama are among the biggest cities in the land which want to be the heads of the casino. The access to the market has huge money implications while the foreign operators are moving in. More than $10 billion has been added to the Japanese GDP from only three casinos. According to an investment bank in the country, the casino would bring more than $30 billion to the country.
Sheldon Adelson, a Las Vegas-based billionaire operator, have sent investigators to monitor the situation in the country. According to a local reporter, the Crown Company has been spotted to seek an opportunity in the market from the government. Before the commencement of the 2020 Olympics, the first casino will be ready. However, there are legislations underway to determine the readiness of the market by then. They will also decide on the number of locations and casinos in the city.
While they have the casino ban lifted, Japan is a place of keen gamblers. Most of the people engage in sport and biking to create a new lane to the economy. This action to pull the market to Japan will have the Singapore market dwarfed in size. He also said the anti-social behaviours in the region would increase. However, this action will give rise to numerous investments and the creation of new jobs.
According to an analyst at the centre, this move is set to make the country become one of the biggest gambling markets in the universe. This is also a move which has raised curiosity in the recent market crisis. The public in Japan have strongly opposed the casino markets according to a recent poll, more than 44 percent of the people do not want casinos in the area.
A study conducted by the Ministry of Health recorded than more than 5 million people in Japan are addicted to gambling. They are also recommending that the lift of the ban will more than double the number in the next two years.