Japan likely to see first casino resort in 2023, analysts say

Don’t expect temporary casinos to sprout in Japan, which is on the verge of legalizing the long-stalled casino gambling bill in the country, any time soon.

If all goes to plan, meaning the IR Promotion bill is approved by Japan’s parliament before the current session ends on December 14, the first Japanese casino resort could be opening its doors in 2023, according to analysts at brokerage Sanford C. Bernstein Ltd.

“The first casino likely would not open until 2023 (we would not envision temporary casinos being authorized as has occurred in some U.S. regional markets,” said analysts Vitaly Umansky, Zhen Gong and Yang Xie in a note, according to GGRAsia.

Last week, the House of Representatives Cabinet committee passed the IR Promotion bill, which seeks to amend Japan’s constitution to remove a prohibition on casino gambling. The bill, which was introduced in December 2013, pushed through the Diet in two days after a little over six hours of discussion, according to Nikkei Asian Review.