News Japan's first casino approved in Osaka

[thomas]

Today, the Japanese government approved a plan to build the country's first casino in Osaka, paving the way for a large resort aimed at attracting domestic and international tourist spending. The project, with an initial investment of 1.8 trillion JPY (USD 13.5 billion), consists of a casino, a conference centre and other facilities and is scheduled to open in 2029. Casinos were previously illegal in Japan and other private gambling, but a 2018 integrated resort (IR) law provided exceptions to casino games such as poker or baccarat at officially approved establishments to attract tourists.

Japan is seen as a prized market for casino operators because of its affluent population of 126 million and proximity to Asia's wealthy gamblers, although opinion polls have shown many citizens worry about addiction and crime. U.S. casino operator MGM Resorts International and local partner Orix Corp. have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. Another 20 companies including Osaka-based Panasonic, Kansai Electric Power and West Japan Railway hold the remaining 20% stake, according to a local government document. MUFG Bank and Sumitomo Mitsui Banking Corp will provide 550 billion JPY in project financing for the resort, the document showed. The 492,000-square-metre resort complex is located on Yumeshima, a reclaimed island in Osaka Bay, and will also include a hotel, shopping mall and ferry terminal. Japan will host the World Expo on the island in 2025.

Japan approves Osaka as site of country’s first casino | The Asahi Shimbun: Breaking News, Japan News and Analysis

Japan has not had casinos in the past due to opposition from a significant portion of the Japanese public, which contends that legal gambling would pave the way for corruption and create financial disaster risks for families. Pro-casino politicians have countered that if properly regulated gambling can bring economic vitality in the form of tourism. Legal forms of gambling in Japan, like horse or boat racing, are operated by a state body and are strictly regulated. A Nikkei poll in April found that 45% of Osaka residents were in favor of the integrated resort in their prefecture, compared with 38% who were opposed.

Paywall alert:

Japan approves first casino, hoping to create new tourism stream

Osaka integrated resort to open in 2029 and compete with others in Asia

asia.nikkei.com

 

[Petaris]

Are pachinko parlors not considered gambling?

 

[thomas]

I was asking Jaybot the same question.

Is gambling legal in Japan?

Is gambling legal in Japan?

jref.com

 

[mdchachi]

Are pachinko parlors not considered gambling?

Of course not. It's just an innocent pastime where you can win little prizes that aren't worth any money. Except for some reason they can be traded for money at rates far more than they are worth.

 

[musicisgood]

I can see Japan now going downhill real fast. Unless the casino is government owned, I only see corruption of govt. officials and the mob moving in at sometime. I do hope it will be well policed. I don't think people will just come to Japan to gamble though. It most likely will end up like all them theme parks in the past. Abandon once the fad is gone. Also with Japan losing its population, who is going to be working there. Foreigners maybe ?

 

[mdchachi]

I can see Japan now going downhill real fast. Unless the casino is government owned, I only see corruption of govt. officials and the mob moving in at sometime. I do hope it will be well policed. I don't think people will just come to Japan to gamble though. It most likely will end up like all them theme parks in the past. Abandon once the fad is gone. Also with Japan losing its population, who is going to be working there. Foreigners maybe ?

Unlike theme parks it should attract rich clientele. There must be a market. The new Bulgari hotel just opened in Tokyo. The cheapest rooms are about $2000/night. In comparison W Osaka, a new luxury hotel in Osaka, is a bargain with rooms starting around $400/night.

 

[Majestic]

Except for some reason they can be traded for money at rates far more than they are worth

...at the dodgy window located in the alley behind the pachinko parlor, where you can't see the staff's face.

All perfectly normal and above board.

 

[Mikawa Ossan]

Osaka being the first to get a casino? Sounds about right.

 

[Majestic]

Anybody remember what "gifts" you used to be given at pachinko parlors? The rare time when I played and actually won something, it was a packet of flints for zippo lighters, which then magically turned into money at the exchange window round the back.

 

[Mikawa Ossan]

I had a friend who used to work at a pachinko parlour, but I never went often enough to actually have any winnings to collect.

 

[mdchachi]

Anybody remember what "gifts" you used to be given at pachinko parlors? The rare time when I played and actually won something, it was a packet of flints for zippo lighters, which then magically turned into money at the exchange window round the back.

I asked Jaybot but not sure what's correct since you can't always trust her. Seems like the most modern way to do it would be to earn virtual points using electronic vouchers or cards.

Pachinko Parlor Prizes

What kinds of items can be won at Pachinko Parlors?

jref.com

 

[Paint_Black]

here comes the first step...

 

[musicisgood]

here comes the first step...

You are spot on.

 

[ashleyclausen]

Today, the Japanese government approved a plan to build the country's first casino in Osaka, paving the way for a large resort aimed at attracting domestic and international tourist spending. The project, with an initial investment of 1.8 trillion JPY (USD 13.5 billion), consists of a casino, a conference centre and other facilities and is scheduled to open in 2029. Casinos were previously illegal in Japan and other private gambling, but a 2018 integrated resort (IR) law provided exceptions to casino games such as poker or baccarat at officially approved establishments to attract tourists.

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Japan approves Osaka as site of country’s first casino | The Asahi Shimbun: Breaking News, Japan News and Analysis

Paywall alert:

Japan approves first casino, hoping to create new tourism stream

Osaka integrated resort to open in 2029 and compete with others in Asia

asia.nikkei.com

I heard about it some time ago, but now I don't know why some people I know became very excited about that idea. Honestly, I have some mixed feelings. Gambling can become an addiction. It's fun and cool to try, but not playing and losing a lot of money. There is a thin line between playing for fun and playing because you can't stop anymore. But it can be economically profitable for the area, it can attract a lot of tourists, and I can see the point of all of it.
Maybe one day I'll visit it after opening, but just to have such an experience, and that's all.