Japan defines the basic rules of the operation of casino

Japan defines the basic rules of the operation of casino

At least seven key regulatory issues need to be considered before the Japanese casino resorts open.

According to media reports, on Monday, November 5, a meeting of the consultative commission of the Japanese government on the policy of liberalization of casinos took place.

Advisors work in two directions: regulation of the fight against money laundering and the development of a criminal code for business in a casino. The latter includes the circumstances of disqualification of a casino license and the development of a system of fines applied in case of violation of the criminal code.

An expert steering group discussed seven regulatory issues. It was the 12th meeting of the commission, consisting of eight representatives from various economic and social sectors who advise the Office on Integrated IR Regime, also known as the Secretariat on IR Promotion.

The Secretariat generates reports for the Cabinet of Ministers of Japan. In the end, the content of regulatory issues will be worked out by the secretariat in the form of suggestions, and then the Cabinet of Ministers will issue them in a resolution.

Also, in February 2019, it is planned to receive online comments from the public.

Another topic of discussion at the meeting of the expert advisory group, which has already received wide coverage in Japanese and foreign media, is the objects that will be built in the first IR.

An investment bank, Morgan Stanley, in a July note has informed that the previously stated public policy objective was to ensure that the casino gaming zones in Japan were no more than 3% of the total resort building area and that there should be a 30% tax on the gross, reduce the rate of return of capital for such objects.

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