Japan Regulators Require More Problem Gambling Protection
The hype on integrated resorts in Japan is waning. In fact, the country is delaying the launch of IRs in the country. Some of the reasons for the delays include the upcoming elections and public sentiments. Regulators require more problem gambling protection for residents.
At a recent international conference, experts pointed out Japan doesn’t protect its residents from problem gambling enough. Mirotoshi Kido from Osaka University of Commerce confirmed there is a gambling problem in the country. The main culprit for the problem are the thousands of pachinko parlors all over Japan. He wants the country to do more about the issue before allowing integrated resorts to open.
The integrated resort industry is a pet project of Prime Minister Shinzo Abe. He told the best sports betting software that the casinos will bring more tourists. In addition, he believes it will improve the country’s revenue.
Problem Gambling Protection
Prime Minister Abe told sportsbook software experts that he wants to create a regulatory commission to supervise the integrated resort industry. However, the government can’t establish the commission until after the elections in summer. As a result, there’s a delay in processing IR projects. That means the earliest launch for IRs will be 2025.
The US spends more than $1.4 billion to regulate casinos by tribal and state authorities. In addition, the casino industry spends $300 million on responsible gambling initiatives.
Once integrated resorts open in Japan, the three casinos can earn around $20 billion a year. That is enough to fund problem gambling protection programs in the country. If an operator doesn’t want to participate in the program, then don’t submit a bid to operate an IR.
Las Vegas Sands wants to operate an integrated resort in Japan. According to the recent gambling industry news, COO Rob Goldstein said that Osaka is the only city in the country suitable to host a Las Vegas Sands property.