Friday, July 01, 2022

Casino management board comes into focus


The structure of the Casino Management Board to be established under the IR Implementation Bill is coming into focus, as the government is revealing to lawmakers its basic plans.

As expected, the Casino Management Board is to be an independent agency under the umbrella of the Cabinet Office. It is now revealed that there will be five members of the board, two of which may or may not be part-time. The members of the board will be appointed by the prime minister with the advice and consent of the National Diet. A board member’s term will be for five years, but reappointment for additional terms is possible.

The Casino Management Board is to be supported by a staff with a strong contingent of lawyers and accountants.

The board is envisioned as possessing strong independent power to oversee IR operators. Violations of law can be met with business improvement orders, suspension of casino licenses, or even the cancellation of casino licenses. On-site inspections are possible.

The areas of oversight will include operator finances and management, investigation of possible criminal connections of executives and their family members, measures for the exclusion of yakuza, money laundering countermeasures, and appropriate policies to deal with gambling addiction.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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