The Japan Casino Regulatory Commission (JCRC) has finally released a draft version of its proposed gaming regulations and has asked the public to submit its feedback on the same. The public will have time till May 9 to submit their suggestions and opinions.
Casino operators will also be very interested in the proposed draft regulations as it has taken forever for the JCRC to come out with the draft regulations.
Japan legalized casino gambling in 2018 but has been very slow to get its casino industry up and running.
While COVID-19 has played a factor in the delay, the overall delay has more to do with Japan taken a cautious approach and not rush the process.
Japan studied some of the top regulated markets in the world which included Macau and Singapore. The consultants at JCRC have come up with the best practices from multiple legalized markets and have looked to implement them in the draft policy.
Key Points In Draft Regulations
The draft policy from the JCRC will cover a number of important parts of the casino launch process for gaming operators as well as regulations that govern players. The regulations also outline the role of the Japanese gaming regulator.
Some of the key factors in the draft policy for operators include the gaming license application process, necessary background verification procedures, the vetting process for major shareholders, permitted casino games and their rules, calculate of gross gaming revenue (GGR), casino floor overall size, technical and structural regulations, casino employee verification and gambling responsibly.
Some of the key factors in the draft policy for players include process for players entering casinos, process for making deposits and withdrawals, KYC, player complaints, handling anti-social elements and preventing gambling addiction.
Casino operators will also be subject to a set of rules regarding casino equipment standards, authorized list of manufacturers, authorized list of testing labs and anti-money laundering protocols.
Three Casino Licenses To Be Issued
Japan will initially start out by issuing three casino licenses and all of the potential casino operators are keen on seeing what the finalized list of gaming regulations will look like before they make a full commitment to seeking a casino license in Japan.
The JCRC has time till July 26, 2021 to finalize the proposed gaming regulations and get the necessary approval it requires. The cities that are keen on hosting an integrated resort include Yokohama, Wakayama, Osaka and Nagasaki.