Japan to get its first-ever casino as part of $13.5 billion resort

 

Japan is set to get its first-ever casino as part of a $13.5 billion resort project in the city of Yokohama. The project is being developed by Genting Singapore, a subsidiary of Malaysian conglomerate Genting Group, and is expected to open in the mid-2020s.

The casino will be a major attraction of the resort, which will also feature hotels, convention centers, shopping malls, and other entertainment facilities. The project is expected to create thousands of jobs and generate significant revenue for the local economy.

The development of casinos in Japan has been a controversial issue, with concerns raised about the potential social and economic impacts of gambling. However, proponents argue that the casinos will attract tourists and boost economic growth, and that measures will be put in place to mitigate any negative effects.

The Japanese government passed a law in 2018 to legalize casinos as part of its efforts to boost tourism and attract foreign investment. The country has identified integrated resorts, which combine casinos with other entertainment facilities, as a key driver of economic growth and is expected to issue up to three licenses for such projects.