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Japan gives thumbs down VIP junkets

japan The National Diet, Japan’s equivalent of a parliament, signed the Integrated Resorts Implementation Bill of prime Minister Shinzo’s Abe’s government into law at the end of July. The new law officially authorizes the construction and operation of three integrated resort casinos, places a 30% tax on gross gambling revenues, sets an entrance fee of $56 for locals to enter the casino and caps local visits to the casino to three days a week or 10 days a month. Just last month, the country announced the creation of a new regulatory body to oversee the industry, the Casino Administration Committee. With approximately 100 members the agency will be tasked with overseeing the casino licensing process and the day-to-day regulation of the three new, multi-billion-dollar integrated resorts. Over in Macau, VIP junkets have formed the core of the former Portuguese enclave’s gambling industry.

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