Shinzo Abe- Japan’s Prime Minister- has reportedly expressed an interest on allowing for the presence of some casinos in Japan in hopes that such a move would work to boost the Japanese economy. Already, the government of Japan has reported plans to open “integrated resorts” or casinos to economic strategizing. As of June 13, three officials of the Japanese government had provided information verifying this news.
Abe had in fact repeatedly expressed support for casinos in the last weeks of May and the early part of June. During a trip to Singapore in May, Abe had been quotes as saying that integrated resorts would benefit governmental attempts to improve economic health.
The government of Japan has several goals set forth that it hopes to meet by 2020. One of these goals is to boost tourism income by attracting twice as many travelers to Japanese destinations annually. Those who support the opening of casino resorts in Japan feel that such attractions would be likely to bring in more foreign visitors while also bringing in money from Japanese citizens who are interested in gambling.
Officials who provided information regarding this upcoming economic move by the government reported that the Japanese government had at first implementing the casino idea in the package of economic stimulation measures that began last year and were known as “Japan is Back”. However, certain cabinet members decided to wait on the casino measure until the general public was more aware of the casino industry and familiar with its benefits.
According to Brokerage CLSA, Japan could bring in as much as $40 billion thanks to a casino economic initiative.