Japan Nominates Members To The Casino Regulatory Body

Japan Nominates Members To The Casino Regulatory Body

The Japanese government has nominated members to the Casino Management Committee, the regulatory body tasked with monitoring the licensing of Integrated resorts in Japan.

Defense Director of Japan’s Ministry of Defense, Michio Kitamura, has been nominated as Chairman of the Committee.

Kitamura was one of five individuals presented to both chambers of the Diet on Wednesday as nominated members of the Casino Management Committee, which will be formally established on 7 January 2020 with the task of overseeing the selection, licensing and general supervision of Japan’s IR industry, reports IAG.

The former head of the Nagoya Regional Taxation BureauHiroyuki Kane, psychiatrist Michiko Watanabe, Keio University special professor Noriko Endo, and former police chief director Kenji Higuchi have also been nominated along with Kitamura.

In the first phase, Japan is to have three integrated resorts. While there are several gambling operators and developers in the race for a casino license in Japan, several cities are also competing to host a casino in the country.

Currently, there are eight areas planning to host a casino which includes Hokkaido, the city of Chiba, Tokyo, Yokohama, Nagoya, a combined effort by Osaka Prefecture and the city of Osaka, Wakayama Prefecture and Nagasaki Prefecture.

According to a recent report from Sanford Bernstein, the Japanese casino market will be the third-largest generating about $8 billion in gross gaming revenues annually. As such, it would be smaller than the Nevada casino market which grossed about $11 billion in revenue in 2018.

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