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Japanese law could open up gambling
Tuesday June 18,2013 : JAPANESE ONLINE GAMBLING PROSPECTS?
Speculation on whether a change in Japanese law could embrace the online and mobile environments.
The assessment last week by leading business analytical company Morgan Stanley that there's a good chance that changes in Japanese law could open up gambling in that populous nation has sparked speculation that such a change could include the online and mobile sectors of the market.
Observers point to Japan's advanced technological and communications infrastructure and the level of comfort with computers and mobile devices that most Japanese exhibit, along with a penchant for gaming and the success of pachinko in the Asian nation.
Morgan Stanley analysts based their assessment on increasingly optimistic reports that the Japanese Restoration political party was making headway in its proposal to open up the Japanese land gambling market with casino resorts, with legalisation possible by the end of 2013, and the first establishments opening their doors around 5 years later.
The assessment opined that Japanese lawmakers are currently the closest they have ever been to legalising land casinos, following the submission of a Japan Restoration Party bill to the Diet (parliament) and increasing pressure from the party to get things moving.
Academic estimates on the potential value of the Japanese land casino market have recently reached as high as $44 billion a year - a potentially worthy rival to top dog Macau - and in the right sort of legislative and taxation environment major gambling groups would clearly be more than a little interested in investing billions.
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