Osaka, Wakayama, and Nagasaki will bid to host newly legalized Japanese casino resorts
The city and prefecture of Osaka along with the prefectures of Wakayama and Nagasaki are hoping to be at the front of this casino revolution, whilst a number of other local governments are considering placing their hats in the ring too.
A forward-thinking approach to gambling
Until July 2018, gambling in Japan was an outlawed activity. Although exceptions were made for sports betting and some lotteries, the casino industry was essentially a none starter, but all that looks set to change.
Following last year’s landmark decision to legalize casino gambling in the country, three areas have already put themselves forwards as would-be hosts for this newly legalized sector: the city and prefecture of Osaka, along with nearby Wakayama and Nagasaki.
Although some reservations remain with regards to the potential impact of a homegrown casino industry, many of the country’s prefectures and major cities are seriously considering following in their footsteps, with a further six revealing that they’re in the midst of ongoing discussions.
In a survey conducted by Kyodo News and covered here, nine of the 67 prefectures and major cities quizzed stated that they were either going to make applications, or seriously considering doing so - a fair number considering the revolutionary nature of these plans.
Osaka, Wakayama, and Nagasaki are the first to openly declare such intentions, but Nagoya is not far behind them, and has stated that it is currently looking for a suitable location.
Aiming to be operational by the 2020s
There are 47 prefectures and 20 major cities that are eligible to apply as hosts for the ‘integrated resorts’ planned by the government, which will include casinos, hotels, and conference rooms. The aim is to have these fully operational by the mid-2020s, with three initial locations on the cards.
Osaka, Wakayama, and Nagasaki have each stated their intentions to bid for these potentially lucrative contracts, stating that they believe the facilities will create numerous jobs and catalyze many positive economic benefits.
All three of these governments have already selected candidate sites, yet it seems they may soon have another competitor joining them in the ring: Nagoya, which has been open about its ongoing discussions on the subject.
Five further local governments – Tokyo, Hokkaido, Ibaraki, Chiba, and Yokohama - have also stated that they are considering the possibility of bidding, although their deliberations have not yet advanced beyond the research stage.
Given the ever-growing popularity of the gambling industry, it’s unsurprising that so many potential candidates are emerging. With both the land-based and online casino sectors going from strength to strength, the market is flooded with providers, who are supported by the plentiful supply of consumers that are out there.
Indeed, those looking to play only have to visit a directory site like Bonus Source to understand the competitive nature of the market, with dozens of different casinos to try and promotional offers galore.
With the industry thriving all across the world, and an ever-increasing number of consumers to win over, it’s practically a given that the bidding process will be fiercely contested, and that the number of entrants is only set to rise.
Why only 1% of Japan's soy sauce is made this way
Business Insider - May 21
It can take 4 years to make one batch of barrel-aged soy sauce. The natural fermentation process was the norm in Japan for centuries, but when industrialization swept the nation, almost all the country's wooden barrels were replaced with steel ones.
Naomi Koshi Is elevating women in Japan's corporate world
TIME - May 21
Naomi Koshi remembers handing out flyers outside a train station during her second mayoral campaign in 2016, when an older man walked up to her and said, “You are too strong for a woman,” and kicked her.
Japan inflation hits seven year high in April
RTE - May 20
Japan's core consumer prices posted their biggest jump in seven years in April, official data showed today, as global commodity prices soared and the yen slumped against the dollar.
Japan notches trade deficit as imports surge on energy costs
marketwatch.com - May 19
TOKYO — Japan recorded a trade deficit in April as its imports ballooned 28% due to soaring energy costs and the yen’s weakness against the dollar.
Will Japan's Casino Resorts Be Able to Combat Money Laundering?
newsonjapan.com - May 19
Japan is planning to open its first casino on 'Dream Island.'
Toyota and Nissan models are only compatible with low-output chargers
Nikkei - May 18
Hyundai Motor's latest electric vehicle that hit the Japanese market this month can travel 220 km on a five-minute charge, a far cry from the lengthy charging Japanese EVs require using low-output chargers.
Japan's Jan.-Mar. GDP contracts annualized 1.0 percent
NHK - May 18
Japan's gross domestic product contracted an annualized 1.0 percent in real terms from January to March, compared to the previous quarter.
Japanese tatami mats, a home-grown tradition
CBS Sunday Morning - May 17
In Japan, grass-and-straw tatami mats – once a privilege reserved for the elite – have been a key feature of home design since the Middle Ages, crafted by gifted artisans. But now, with cheap knockoffs and changing lifestyles, the industry is at a crossroads.
Suntory hikes soft drink prices in Japan's latest taste of inflation
Nikkei - May 17
Suntory Beverage and Food, one of Japan's top sellers of soft drinks, will serve up its most wide-ranging price hike yet in a move expected to push rivals to follow suit in an industry squeezed by higher costs.
No chicken, no salami: Japanese eatery pulls items on shortages
Nikkei - May 17
Saizeriya, a Japan-based chain of family-style Italian restaurants, has discontinued certain dishes over supply chain disruptions abroad and is turning to domestic procurement of certain ingredients.
Tokyo court rules COVID-19 business order illegal
NHK - May 17
A Japanese court has ruled a local government broke the law by ordering a restaurant chain to shorten its business hours to curb the spread of the coronavirus.
How 'transitory' is Japanese inflation?
Nikkei - May 16
For over a year, the Federal Reserve insisted that the rise in U.S. inflation was "transitory," while evidence mounted to the contrary. It dropped the claim in November and the word is now a punchline for critics of the central bank, who say it should have acted to tame prices sooner.
Japan wholesale prices hit record 10% as energy costs soar
Business Times - May 16
Japan's wholesale prices in April jumped 10 per cent from the same month a year earlier, data showed on Monday (May 16), rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials.
The history of Zen, from its roots in Buddhism to how the ancient religion became a capitalist darling
South China Morning Post - May 15
The term “Zen” has outgrown its origins as a sect of Buddhism, becoming an ubiquitous descriptor for design, lifestyle and even fashion, leaked from the East to the West and now prefixing a plethora of commodities, from “zen grey” paint to beauty products.
Classic Japanese audio brand Onkyo files for bankruptcy
Nikkei - May 14
Japanese audio equipment maker Onkyo Home Entertainment filed for bankruptcy at Osaka District Court on Friday, with total liabilities of around 3.1 billion yen ($24 million).
