Japan casino debate delayed to November

Debate on a bill to legalize casinos in Japan has been pushed back to November, raising significant doubt it will be passed in the current parliamentary session ending Nov. 30th, Reuters reported, citing unnamed sources.
If the debate is delayed until the next session in early 2015, it’s highly unlikely that any casino project will be up and running in time for the Tokyo Olympics in 2020.
International casino operators have been lining up to bid for a license in what is expected to rapidly grow to become the world’s third-largest market, with potential of as much as $40 billion a year, according to CLSA.
The bill is backed by Prime Minister Shinzo Abe as a cornerstone of his efforts to boost the economy and the tourism industry. However, passage of the legislation has been bogged down by concern over problem gambling, with debate on whether to ban or restrict local access to the resorts.
Such a move is likely to significantly reduce the attraction of the market, making the kind of multi-billion dollar investments that have been talked about unlikely.