Published on May 13, 2014 by Tom Jones
The closer Japan gets to legalizing casino gambling the more gambling patriarchs the world over salivate. New reports suggest that Japan is closer than ever to legalizing the adult entertainment industry and two cities are being predicted because the first to add gaming resort destinations - Osaka and Tokyo.
The goal of lawmakers who support legalizing casino gambling in Japan is for casinos to be built by the 2020 Olympics with the intention to be held in Tokyo.
One of the largest players available in the market is from a reputation CGW can not seem to break out from within the news the past several weeks, Las Vegas Sands owner, Sheldon Adelson.
With the giant success of his Venetian casinos in both Las Vegas, and more importantly, China (Macau), and his other billion dollar success in Singapore with the quay Sands, his company is the front-runner with regards to getting approved for licensing in his estimated $10 billion bids in Japan.
His first goal is to construct the primary luxury resort casino in Tokyo.
Tokyo is among the biggest cities on the planet with a powerful economy. However, Japan's economy overall is hurting and the gambling industry is seen as a potential savior, a minimum of for 2 industries - the development industry and the services industry.
While Adelson has expressed interest in Osaka, Tokyo is town that revs his engines. Estimates suggest an industry to closely trail in Macau in revenue. However, Osaka is town that just last month already suggested a domain they need to position their first casino.
So although Tokyo is the dream of Adelson, he might first be headed for a fight with fellow casino mogul Neil Bluhm, who owns casinos in three American states.
Unlike Adelson, Bluhm's first focus is on Osaka and he feels because he's so narrowly focused, and greater than willing to make local partners within the city, he has an upper-hand in winning a bid.
Whatever the result, the scoop this is that Japan is inching ever so towards passing legislation to legalize casino gambling.
Keep it tuned to CGW as we follow this story because it unfolds over the approaching months. In line with Reuters, legislation could come as early as this year.
Read More... [Source: Gambling News]
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