TOKYO—Japan passed a long-awaited bill to legalize casinos Thursday, Jiji Press reported, opening up a market seen as a potential global gaming powerhouse rivalling Asian titan Macau.
The controversial bill got through parliament in the early hours of Thursday morning despite a last-ditch opposition bid to stall it, after years of delays over worries about gambling addiction and organized crime.
Passage of the bill came on the last day of the current parliamentary session.
More legislation outlining details of so-called integrated resorts”•which will feature hotel, retail, convention centre and entertainment venues including casinos”•is required before any betting parlors can be built.
That makes it unlikely that Japan will have any in place before Tokyo hosts the 2020 Olympics.
But Prime Minister Shinzo Abe and his party are rolling the dice on casinos, hoping they will support tourism after the games, and pump some life into the world’s number three economy.
Supporters have said casinos could bring huge investment, with some analysts envisaging a $30 billion market, in a challenge to Macau’s once high-rolling tables.