Today is a wonderful day because news broke that the legalization of land based gambling may come to Japan in the near future. This would mean amazing progress for our industry as it would open up the stage for online gambling in the future. Japan has been a slow developed nation to come to terms with gambling, but we are all happy to hear that the process has been started and we want to tell you all about it in this post.

For those of you unfamiliar with the topic, let us tell you that in the past there have been small attempts at legalizing online gambling in Japan, but they always end up coming short of what they could be. The efforts to legalize the activity have been in the works for almost 10 years, and are set to become concrete over the next two years and they are being boosted by success stories of the new gambling laws in the United States. Also, as the gambling industry rises in Asia, lawmakers have a lot of ground to fall on when attempting to recall why this is a good idea.

If the legislation is passed, Japan could become the second largest land gambling market in the world, and the latest news say that the bill could become a reality in the next few months. “The hurdles to enter the business should be set high. It should not be easy for anyone to get a license and participate in the industry,” the policy plan states. “With proper regulation and enforcement of the law, there is absolutely no reason for casinos to become hotbeds of criminal activity.”

The bill will be presented before this year ends, and will be up for consideration and approval in 2014, followed by a two year wait to implement all the political requirements the government has for such a change. Many large companies from Las Vegas have expressed serious interest in entering the market in Japan once it opens. Among them are MGM Resorts International, Las Vegas Sands Corp, Melco Crown Entertainment, and Wynn Resorts.

The authorities in Japan believe that casino gambling could “help promote tourism, encourage business, create jobs, and boost local development,” according to Takeshi Iwaya, a representative of the Liberal Democratic Party. “Neighboring areas are contemplating similar plans, so if we don’t hurry, we may risk missing out on a big opportunity.”