Gaming legislation in Japan has become more likely due to a change in the political landscape, warranting casino operators to “step up” their efforts, says Union Gaming.
In a note from the brokerage on Thursday, as Abe’s LDP now holds outright majority in both houses of the legislature, this means the party can now push through legislation without the help of any other political party.
The likelihood of IR legislation passing “now feels better than 50/50,” said the brokerage.
“Abe's agenda is all that matters now. With the LDP able to pass simple legislation at will, the only thing holding back the IR bill would be where it lands on the priority ladder. The timing of when Abe wants to tackle the national defense bill (constitutional change, 2/3rds majority required, which means he needs coalition support) will determine when the IR bill - that only requires a simple majority - is heard,” said Union Gaming.
Current thinking is that two large licenses will be issued with one going to metro Tokyo and one for Osaka, said the brokerage. It is also possible that smaller licenses could be issued at some later date, they added.
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