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The Japanese government has approved the construction of the first casino resort, which will be located in Osaka
Japan is the world's third largest economy with a population of around 125 million.Gambling has been prohibited here for many years, and only certain exceptions are allowed, such as pachinko, betting on horse races or some motor sports.Casinos as we know them from our region were completely taboo here. Gambling is punishable by 3 years, for organizers up to 5 years.
But after many years it changed. In 2018, other exceptions to the law were adopted, which already allowed poker or baccarat, as well as casinos. So-called integrated resorts containing casinos are allowed. At that time, it was approved that 3 such resorts would receive permission.
The first casino resort was approved by the government of Japan only this Friday. It will be built in Osaka on the man-made island of Yumeshima. The entire resort with an area of 49 hectares will cost up to 13.5 billion dollars and its opening is planned for the end of 2029.
The government states that this integrated resort will not only help develop the Osaka region, which is to host the World Expo on the island in 2025, but will also help the country's economic growth. It is estimated that the resort attracts up to 20 million tourists annually, of which 6 million are from abroad.
The construction of the resort, which will also include a hotel, conference halls, a theater, a shopping center, restaurants and an exhibition center, will be taken care of by the American company MGM Resorts International and the domestic Orix Corporation. In the company that will operate the resort, MGM and Orix will each have 40 percent, and the remaining 20 percent will be acquired by 20 domestic companies such as Panasonic, Kensai Electric Power and Japan Railway.
The new resort is expected to bring up to 15,000 new jobs and annual economic benefits of up to 8.5 billion dollars, with up to 80 percent coming from casinos. But there is also dark side to that. Various organizations have expressed that the construction of such a resort will lead to an increase in gambling addiction, with approximately 2.2 percent of the population found to be affected by gambling addiction. The authorities of Osaka have therefore pledged to increase the number of medical institutions by 140 percent by the time the resort opens. In addition, residents of Japan will be able to enter the casino only 3 times a week, but a maximum of 10 times a month and will pay an entrance fee of 6,000 yen ($45). Family members can even request a casino ban for their relative. However, none of this will apply to foreign tourists.
But addictions aren't the only problem here. Experts are worried about whether an artificially built island can even handle such a huge load, which an integrated resort brings with it, and whether the whole island won't sink. The year 2029 as the opening year also remains questionable. According to some estimates, the year 2030 or 2031 is more realistic. However, these relevant questions remain unanswered for now.
However, Osaka with its artificial island Yumeshima will probably not be the only place where a huge integrated resort will grow.Nagasaki has also been talked about for a long time, where an investment of approximately 3.3 billion dollars is expected. Negotiations are still ongoing and the area is expected to be approved by the government in the coming months.
If you thought that players would only play live poker in Japan after the opening of the resort, then you are wrong. For example, the WPT Japan or the popular Japan Open Poker Tour has been held in Japan for several years. However, players won't win any money here. This is prohibited by local law. However, they can play for commodities or some service. For example, such a winner of WPT Japan will take home a WPT Passport, which includes a ticket to a WPT tournament anywhere in the world, a hotel and an airline ticket. Are you coming to play poker at the new integrated resort in Osaka?
Source: Japantimes, GGRAsia, asgam, The guardian, somuchpoker, blooloop, WPT Japan, asahi