In a spin: Japan’s government has legalised casinos, but they are not popular
In a spin
Japan’s government has legalised casinos, but they are not popular
from The Economist
Over ¥23trn ($203bn) is waged annually on pachinko. Pachinko players spend more than the combined betting revenue of all casinos in Macau.
Only 12% of JP citizens supported the legalisation of casinos in Dec. Critics said it would exacerbate problem gambling and attract yakuzas
The construction of casinos could generate ¥5trn in economic activity with another ¥2trn a year from increased tourism.
Foreign casino-operators began lobbying. Bureaucrats are crafting legislation to decide how many resorts to permit and where to put them
Investors fear outbreaks of NIMBYism. In a recent survey 75% of Japanese said they would not like a casino to be built near their homes.
The government wants to double the number of visitors come to JP by 2020, along with the roughly ¥3.5trn that tourists spend annually.
Japan faces regional competition from Macau, Malaysia and Singapore. What will give the country an edge is Japanese culture, or onsen resort
Most Japanese are “emotionally” against casinos and will need to be convinced
