It was only last December, that the legislation passed to legalise gambling in the land of the Rising Sun. Having received the green light from the legislative body known as the Diet, Japan will see the surge of land-based casinos popping up everywhere. Read on to learn more.
Japan, the gambling hub of the Far East?
Analysts have estimated that the value of the gambling market in Japan could be as high as a whopping $40 billion annually. It would therefore, make it more enticing than Macau’s $29 billion annual income. Hong Kong business man Tim Hall stated that he believes that most of Macau’s casino regulars originate from China and will want to discover the Japanese style of gaming. Of course, this will only be possible with the Chinese government’s blessing since China controls where its citizens travel.
If you have never spotted any Japanese high-rollers in either Macau or Las Vegas, a visit to bustling Toyko or to one of the deafening pachinko parlors will be evident enough that the Japanese do love playing games and thrive on winning cash prizes when doing so.
Pachinko games are a cross between slot machines and a pinball machine where players have to try to win silver balls. These balls are then traded in for tokens that can be cashed in for money. Although the Japanese government does not quite see pachinko as gambling, the similarities between a pachinko parlour and a land-based casino is big.
If casino operators in Macau are worried about this legislation and how it will affect business, they are at least not showing it. Some business men have even stated that this legislation will open up new opportunities for people to check out gambling over in Macau. Then again, the Japanese gaming market is likely to be bigger than anticipated.
Regardless, it will all become clear and sharp once the Japanese government rolls out gambling and makes it legal officially.
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