Spring is coming to Japan, but apparently, it won’t be the time that the country’s ongoing integrated resorts legalization process will reach its full bloom.
After talking with a member of Japan’s House of Representatives who is involved with the in-process IR legislation, analysts at brokerage Union Gaming Securities Asia Ltd. believe there won’t be any movement during the Diet’s spring session.
“Rather, we think the Diet has already made the decision to handle the IR bill during the fall special session, suggesting that it is more likely going to be an October or November event,” Union Gaming analyst Grant Govertsen said in a note.
Japan already passed the first legislation—the so-called “enabling” bill—last December that will pave the way to make casino gambling legal, and if all goes well, the country may see the opening of new casinos by year 2023. But even before Japanese lawmakers can lay down the ground rules for the opening of casinos, international operators are scrambling to find local partners and venue hosts in the island nation.