Ahead of JgC17 taking place later this year from 10th – 11th May we took a minute to catch up with one of our key speakers. Check out what he had to say below:
JgC: Are you surprised that IRs weren’t made legal earlier? Or is this the timing that you expected?
TT: I was surprised. I thought that the situation came about very suddenly in spite of a distinct lack of internal government discussion.
JgC: What are the main ways that you feel IRs will benefit Japan?
TT:I don't think that the average tourist who visits Japan will be interested in IRs as they mostly come to check out the historic landmarks.The main benefits IRs will bring are the economic benefits to the local areas by increasing business tourists who attend huge exhibitions, trade fairs, conventions etc
JgC: Do you have any key concerns in regard to the IR market and its impact? What’s the solution?
TT: Most Japanese people and I have some concern. Primarily, that casinos might be used for money laundering. Secondly, very few people will actually go bankrupt through playing in casinos but there is still a risk.
I don't have a perfect solution. Supporters of the IR should explain how much revenue Japan stands to lose if there are no IRs.
The profits of the underground casinos are being used to fund the activities of antisocial groups. The government should monitor the casino industry and collect tax from that. The government should use the yield of taxes for social welfare and gambling addiction measures.
Now the argument of gambling addiction measures has become high profile in Japan, I think this will do a lot for the cause. The government previously did not accept existence of gambling addiction. Despite the existence of horse racing, cycling, speed boat racing gambling and so on, gambling addiction measures had not been addressed properly until now. Only the pachinko industry has really invested in research of gambling addiction over the last ten years ten years.
For more information on the agenda and the rest of our speakers please click here