On Wednesday, the Kansai Association of Corporate Executives made a four-point “emergency request” to the Japanese government regarding the possible establishment of IRs in the Kansai region, which includes the expected bids of both Osaka and Wakayama.
The four points of the appeal were that casino tax revenues should be shared on a 50-50 basis by the national and local governments; that casino entrance fees should be allocated to local governments to combat gambling addiction; that the IRs should be established, in principle, on leased land; and that the central government move quickly to pass the IR Implementation Bill into law and to select the municipalities that will be licensed for casino operations.
In regard to the latter point, the Kansai executives urged the central government to create the conditions under which Osaka could open the doors at the anticipated Yumeshima IR before the year 2025.
The central government is expected to unveil its draft legislation around August, with local governments and businesses now jockeying to ensure favorable terms for their own IR plans.
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