TOKYO: Japan’s ruling Liberal Democratic Party submitted the long-awaited IR Implementation Bill to its parliament, the National Diet, on Friday after officially approving its casino regulations.
Although doubts have surfaced over whether the bill will be passed before the end of the current Diet session on 20 June 2018, the introduction of the bill remains a key milestone in Japan’s push for a casino industry following almost 18 months of the most recent round of deliberations.
The LDP and its coalition partner Komeito earlier this month agreed on a raft of key measures to be contained in the bill, including a ¥6,000 entry fee for residents, a 30% flat tax rate on revenue and a 3% cap on the size of the gaming area within an integrated resort.
There will also be exactly three casino licenses issued in the first round with residents restricted to three visits per week and 10 visits per month.
