International credit watcher Fitch Ratings has capped Japan’s annual gaming revenues at $6 billion as the government formally presented a bill that would pave the way for the opening of casinos in the country.

Fitch’s outlook was below the consensus of other financial analysts, which were generally above the $10 billion mark.

The credit ratings agency’s pessimism was fueled by the developments in Japan’s Integrated Resorts (IR) Bill, which was forwarded by the ruling Liberal Democratic Party (LDP) and its junior coalition partner Komeito on Friday to the members of the Diet.

In a nutshell, the IR bill would mandate the government to set an upper limit on casino floor space. The coalition party also agreed on 30 percent tax on casino revenue, an entry fee of JPY6,000 (US$55.92) for residents of Japan and an initial cap of three casino sites nationwide.