Japan appears to be close to legalizing gambling following a positive legislative committee vote on Friday. But even if gambling is legalized in the country of 127 million, investors shouldn't expect to see the first casino resorts open in the country until 2023, analysts at Bernstein say. A lower parliamentary house vote on the issue could come as soon as Tuesday., but, the legislation could take up to two years to fully pass through the parliamentary process and become law. Earlier this year MGM Resorts  (MGM - Get Report) CEO James Murren says his company is prepared to invest at least $9.5 billion. Las Vegas Sands (LVS - Get Report) says it is prepared to invest $10 billion in Japan.