Shares in global gambling operators soared today as Japan legalizes gambling in a bid to encourage growth in the economy.
Japan Legalizes Gambling
After much debate about social problems and economic advantages Japan legalizes gambling. Today, lawmakers paved the way to develop a multi billion dollar gambling industry. Casinos will now be legal subject to regulation by the Japanese government. The long-standing prohibition on casino style gambling operations has now been lifted. It has been debated since 1999.
Japan is strategically placed to compete with localised casino gambling operations in Macau, Singapore and Saipan. These gambling locations enjoy a massive amount of gambling income from Chinese visitors because gambling in China is prohibited. The Japanese government can now look to gaining a share of this multi-billion dollar revenue.