Japan: Osaka Releases IR Policy Draft

Japan:Osaka Releases IR Policy Draft

Recently, there have been significant developments leading to casinos in Japan. The Osaka prefecture which has been seeking to host a casino has released a policy draft for an integrated casino that outlines the conditions for the prospective casino.

Osaka is planning to launch the Request For Proposal (RFP) by the year-end. Following the start of the RFP process, Osaka will choose an operator within six months. In the draft proposal, it is revealed that they are seeking to have the casino open by 2025.

While Japan will not accept any bids before January 2021, the prefectures willing to host a casino could accept bids from casino operators. The final bid approved by the prefectures will have to be approved by the government as well.

Earlier this month, 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.

While Japan is poised to have casino resorts, not everybody is happy with the deal. A Jiji opinion survey has found that about 60 percent of the Japanese are not in favor of the casino gambling industry and that their major concern is public security.

The majority of people believe that allowing casinos in the country would pose a threat to public security.

The survey found that 57.9 pct of the participants disagreed with the plan, while only 26.6 pct agreed with it.

62.8 percent said they would back the establishment of such a facility in their local areas, while 29.0 pct said they would not.

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