TOKYO: Japan’s ruling Liberal Democratic Party (LDP) and its coalition partner Komeito are ready to deliver the highly anticipated Integrated Resorts (IR) bill before the Japanese Diet on April 27. Talks of legalizing gambling for the country have been in the works for some time, and the push to bring in integrated resorts has been key to capitalizing on the proposed legalization for the country.
Integrated resorts incorporate more than just casinos, but function as casino-resorts in the scale of mega-properties. Earlier this month the LDP laid out the preliminary plan for the focus on IRs that would feature casino gambling. Criticism has come from media organizations however as they do not believe that anything of substance will happen anytime soon citing a history of delays on the issue.Speculation has revolved around the public’s opinion of not being fully comfortable with the idea of casino gambling along with the potential new bill’s intention to stimulate a struggling Japanese economy. Among the bill’s supporters are billionaire Sheldon Adelson, chairperson and CEO of the Las Vegas Sands Corporation, who called Japan the “ultimate business opportunity” in terms of integrated casino resort expansion; adding that LVS would spend as much as $10 billion to construct their own IR. However, even Adelson has expressed reluctance under the current political conditions of Japan.
