Japanese Casino Legislation On Target; Organized Crime Gets Shut Out
It’s been decades in the making, but Japan spurred on by the promise associated with 2020 Tokyo Summer Olympic Games appears to be finally creating a real push towards legalizing land gaming into the island country. News reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before year’s end for very early 2014 passage, God willin’ and the crick don’t rise.
Baby Steps Towards Legalization At Last
Even if that happens on routine, however, it could take another two years for the legislators to drum up a more in-depth regulatory overview, which often would at long last open the road towards bonafide legal gambling enterprises to start being built. The goal, of course, being to possess everything up and prepared to move with time for those tourists that are all-important manage to drop some chunks of modification once they come to Japan for those summer games.
As we’ve been seeing ad nauseum of late, corruption, crime and gambling seem to often sleep into the exact same bed together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards in their casino regulations. These include producing an independent gambling regulator that would in turn oversee the license application procedure, as well as making it mandatory for any licensees to have a decade’s worth minimum of their tax, banking and credit informative data on all their top-level executives designed for review.