The IR Implementation Bill is currently under the consideration of the Congress of Japan. Addressing of the IR Implementation Bill by the Japanese Congress finally will determine the trajectory of the casino industry in the nation. Investors all around the world are looking forward to the regulation on the Japanese market as it is estimated as the most profitable markets on an international level.
According to AGBrief, “enthusiastically Pro-IR elements in the LDP want to expand the number of IR licenses to be granted in the first round to about five. Komeito has responded firmly that three is the most that it can accept.”
With the nearing of the submission of the IR Implementation Bill, integrated resorts are in the proximity of reality in Japan. The general bill on casinos cannot come into force until the Congress passes all regulations regarding gambling prevention, license process and gaming taxes, among other things.
Despite usually discussing the national budget for the fiscal year each time the ordinary session begins, the government wants to have the bill passed soon. As a result, the bill is set to reach the House of Representatives this month once it gets cabinet approval. The ordinary session of parliament is due to end on June 20th; the IR Implementation Bill is, therefore anticipated to be passed sometime between April and that date.
