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Japanese lawmakers have reportedly started the process of developing the crucial second legislation that will decide the regulatory policies for the country\u2019 gaming industry.<\/p>\nJapanese lawmakers have reportedly started the process of developing the crucial second legislation that will decide the regulatory policies for the country\u2019 gaming industry.<\/p>\n
The IR [Integrated Resorts] Promotion Bill<\/a> that was cleared in December legalized gambling in the country<\/a> but did not have any specifics regarding how the industry would be structured and regulated. A second bill is expected to be passed that will cover the necessary elements with respect to implementation. According to Japanese newswire service Jiji Press<\/a>, the Japanese government started the process of developing the second legislation on April 4. <\/p>\n There has been very little information regarding the government\u2019s approach.<\/p>\n A note from brokerage firm Union Gaming Securities Asia Ltd<\/strong> suggests that official discussions surrounding key elements such as tax rates, total number of licenses and casinos locations is most likely to take place behind the scenes, while public focus would remain on aspects that have wider social impact such as problem gambling. Union Gaming reports that Japanese legislature is unlikely to make any changes to current frameworks governing existing forms of gaming including pachinko and horse racing.<\/p>\n NewsBeat Social <\/strong><\/p>\n