Casinos Will be Coming to Japan in 2023

Japan's lower house approved gambling legislation that paves the way for the first casino resorts to open in the coming years.
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Japan's lower parliamentary house officially legalized integrated resorts on Thursday, paving the way for the first casino resorts to open in the country of 127 million people. The country's upper house voted to approve the bill Wednesday, but made slight changes to the language, sending the legislation back to the lower house for final approval. Analysts at investment bank CLSA estimate that Japan's gambling economy could reach $30 billion annually. Prime Minister Shinzo Abe has touted casino gambling as a way to maintain tourism levels in the country following the 2020 summer Olympic games in Tokyo. According to analysts at research firm Bernstein, The first casinos are not expected to open until 2023. The next step in the process will be for companies to place bids to receive licences to build resorts. That process could take up to two years.