IR Implementation Bill Enacted into Law

The IR Implementation Bill has become law. It authorizes the creation of three major casino resorts in Japan expected to open their doors in the mid-2020s in locations yet to be determined.

The passage of the IR Implementation Act represents the culmination of a casino legalization campaign in Japan that began in earnest almost two decades ago in 1999 with former Tokyo Governor Shintaro Ishihara’s scheme to build a waterfront casino.

Now that IRs have become legal in Japan, domestic and international businesses are expected to pour billions of dollars of investment into the three projects. Many analysts believe that the Japanese IR market will ultimately become larger than any other in Asia, save Macau.

However, many crucial issues remain to be solved, especially in light of the fact that a majority of the general public in Japan remains opposed to the legalization of casino gambling in spite of the ruling coalition’s decision for enactment. (AGB Nippon)