Australian billionaire James Packer has ambitious plans for his casino empire. Japan is at the center of his plans, with the businessman hoping that they will go ahead with casino legalization plans in the next few months.
Unfortunately for Packer and his company, these legalization plans have hit quite a few road bumps in recent weeks. There is even talk of the Japanese prime minister losing motivation to push through legalization. This would be a major blow for Packer’s plans in Japan.
It was initially thought that these were merely delaying tactics from Japanese opposition members. However, there is a real worry now that the legislation may be scrapped altogether. There is expected to be a few sessions this month in the parliament, but if no conclusion is reached before holiday, James Packer will be worried.
There is now a good chance that the legalization vote will not take place in 2014. James Packer and other casino moguls will have to wait until 2015 before they sink their teeth into Japan. However, a complete abandonment of this issue seems very unlikely.
Despite a few missteps in recent months, the Japanese prime minister is still very popular among his people. In a recent visit to Singapore, the prime minister spoke about his complete support for the legislation to legalize gambling in Japan.
The main reason why there has been a delay is that Japan’s parliament is busy with other issues. They have faced many crises on the domestic and international scene in recent months. This has caused the gambling issue to become less important, and the prime minister does not want to appear to have the wrong priorities by pushing too hard.
After a few compromises with the opposition, expect the legislation to go through before the summer of 2015.