The Japanese government unveiled its casino regulatory body. It will oversee the integrated resort and the commercial gaming industry as a whole. Also, Prime Minister Shinzo Abe said it will have four members.
The Japan Casino Administration Committee will handle casino licensing and operator supervision. Also, the casino regulatory body will oversee the three integrated resorts to prevent illegal activities at the properties.
The National Diet, Japan’s legislative body, will finalize the licensing process and other gaming laws. It is the role of the committee to enforce the rules and regulations.
Casino Regulatory Body
According to pay per head reviews and news sites, the National Diet will create a Fundamental Policy. It is the framework for the integrated casino’s approval process. Also, It will have the criteria for the bidding process. In addition, casino firms partner with prefectures and local companies to bid for the casino licenses.
At present, MGM Resorts and Las Vegas Sands are favorites for getting casino licenses in Japan. However, major global casino companies are expected to offer their bids. They include Wynn Resorts, Melco Resorts, Caesars Entertainment, Galaxy Entertainment, SJM Holdings, and Hard Rock.
Osaka is expected to host the first integrated resort. Also, other host candidates include Wakayama, Hokkaido, Kanagawa, Nagasaki, and Yokohama. Lawmakers want to satisfy the public. They want to ensure that legalizing casinos is for the best interest of the community. In fact, one of the key conditions of the policy is the problem of gambling preventive measures.
Although the general public doesn’t like casinos, the Liberal Democratic Party managed to pass the law legalizing integrated resorts. Prime Minister Abe sees casino resorts as a way of attracting more tourists to the country.
Sports betting software sites reported that casinos will require Japanese residents an entrance fee of 6,000 yen or around $56. This will ensure that only people who can afford to gamble have access to the gaming floor.
Bad news for sportsbook sports betting software providers. There are no talks about sports betting in the integrated casinos.