Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Japan casino bill delayed indefinitely, dashing 2020 hopes - sources

Published 04/11/2014, 09:29
Updated 04/11/2014, 09:30
Japan casino bill delayed indefinitely, dashing 2020 hopes - sources

By Ritsuko Ando

TOKYO (Reuters) - Japanese lawmakers plan to indefinitely postpone a vote on legalising casinos, ending hopes of enacting a law in this session of parliament and of having a gambling resort open in time for Tokyo's 2020 Olympics, three people directly involved in the process said.

The latest in a string of delays for the controversial bill will be a blow to Abe, who has promoted casino resorts as part of his economic growth programme, and a disappointment to casino developers from Las Vegas to Macau.

Lawmakers will set aside the bill as the prime minister, struggling to keep his party together after a string of scandals, lacks the political leverage to pass a bill in the current parliamentary session ending this month, the sources, who are directly involved in pushing the casino bill, told Reuters on Tuesday.

"If they can't pass it now, I doubt whether they'll ever be able to pass it," one of the sources said.

Lawmakers will try to carry the bill over to the session of parliament starting early in 2015, but it is unclear if this will work or when - if ever - a casino law will be enacted, the sources said. They all said there was a chance it would not be passed next year either.

(Additional reporting by Emi Emoto; Editing by William Mallard and Raju Gopalakrishnan)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.