Is the 2020 Japan Olympic Casino Dream over?

Over the past few years, major casino corporations have been lobbying hard to get casino gambling legalized in Japan. And one of the most-obvious reasons why is because of the 2020 Olympics, which would give these potential casinos a huge boost. But as we move closer and closer towards the summer of 2020, with no casino legislation in place, is the 2020 Japan Olympic casino dream now fading?

It seems that the pressure is on for something to happen now because it takes time for big casino resorts to be established. As The Motley Fool points out, it took Las Vegas Sands five years from the time they won their Singapore casino bid to open. Considering that Japan isn’t even at the point of taking bids on casino projects yet, it doesn’t seem like there’s much time before the 2020 Summer Olympics.

This being said, is there any hope for Japanese casinos by 2020? Here’s a snippet from Motley Fool on the matter:

“Supporters have said they will bring the bill up again as early as this month, but that’s before any legal challenges and any bidding process. It’s not an impossible task, but a Japanese gambling industry that once seemed like a slam dunk is now a big question mark.”

Aside from the Olympic timetable that could soon be drying up, another problem facing the Japanese gambling attraction is that Macau is really slowing down right now. Because all of the big-time corporations that want to invest in Japan draw the majority of their revenue from Macau, this could hamper the amount of money they’re willing to invest.

But even if Japanese casino legislation doesn’t happen any time soon, it will still be an attractive country from a gaming perspective. For starters, Japan has the world’s third-largest economy, which means plenty of disposable income for use in casino resorts. Another plus to the Land of the Rising Sun is that their gaming options are very limited right now, with only pachinko parlors, horse racing and some lotteries available. Finally, there are over 126 million people in Japan, which is certainly a sufficient population to support casino resorts.

Once again, though, the ideal scenario would be for Japanese casinos to be up and running before the summer of 2020. So this leaves just over five years for a bill to be passed, bids to be accepted and fair taxation to be agreed upon.