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Japanese authorities has confirmed to approve the new regulations for casino resorts, with hopes to open the first resort in Osaka by 2024.
Casinos were legalised in 2016 in Japan and another bill was passed in 2018 which would begin the legalisation of integrated resorts. Japan’s prime minister Shinzo Abe expects that the decision will offer a new source of tax revenue for the country. In addition to this, it is hoped that it will open the door towards new investment opportunities from large corporations such as MGM Resorts International and Melco Resorts & Entertainment Ltd. Japan who already have a horse racing offerings in the country.
Land of the Rising Sun had previously hoped to open its first casino in time for the Tokyo 2020 Olympics, but due to regulations and public concerns over problem gambling, the plans had been put on hold. The new plans will seek to become an advanced country for tourism.
The latest Japanese regulations have set out specific conditions for new gambling resorts in the country, including hotel sizes, conference facilities and exhibition centers.
