The earthquake and tsunami that rocked Japan in March has the nation contemplating casino legalization as a way to fund the estimated $245 billion needed to rebuild from the natural disasters.
The Guardianreports a number of influential Japanese politicians, including four former Prime Ministers, are pushing for integrated gaming resorts similar to those in Singapore. This political group, which numbers 150, believes these resorts will not only generate substantial tax revenue, but can also help revive Japan’s flagging tourism trade that has yet to fully recover from the disasters and the ongoing Fukushima Daiichi nuclear power plant problems.
Issei Koga, an MP from the governing Democratic party of Japan and leader of the group, said casino resorts would be “enormously strong engines” for generating international tourism, according toThe Guardian.
Previous academic studies show casino resorts in Japan could become a $44 billion market. Companies such as Las Vegas Sands have expressed interest in Japan casino development in the past.