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 so that it will be held in Tokyo.
One of the largest players out there is from a reputation CGW can not seem to escape from within the news the past several weeks, Las Vegas Sands owner, Sheldon Adelson.
With the large success of his Venetian casinos in both Las Vegas, and more importantly, China (Macau), and his other billion dollar success in Singapore with the jetty Sands, his company is the front-runner on the subject of 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 without doubt one of 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 the town that revs his engines. Estimates suggest an industry to closely trail in Macau in revenue. However, Osaka is the town that just last month already suggested a domain they want 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 inside track this is that Japan is inching ever so in the direction of passing legislation to legalize casino gambling.
Keep it tuned to CGW as we follow this story because it unfolds over the approaching months. In keeping with Reuters, legislation could come as early as this year.
Read More... [Source: Gambling News]
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