Japan’s parliament is in motion to legalise casino industry in world’s third biggest economy. The bill if passed will bring lots of new investment in the country and will create thousands of jobs.
According to some market research Japanese gambling industry could be worth $40bn a year and that’s why many top casino companies of Las Vegas and of world such as Wynn, Hard Rock International, Crown Casino and MGM Resorts and sands are looking to invest big in the country.
It is expected that if Japan legalize casino gambling, it would become world biggest casino gambling market and will even left Macau behind.
Gaming related shares are rising strongly in Japan in a hope that the parliament will pass the bill this week.
Last week, Shares of a Japanese company Glory closed near an all-time high on Friday. The company makes cash process machines.
Japan’s Prime Minister Shinzo Abe is behind the whole process. He is putting all his efforts to make this possible, because according to him, this move will bring required investment in stumbling Japanese economy and will create more jobs.
The move to legalise casino gaming in Japan is not just making an impact on gambling related shares but it is also making a positive impact on shares related to railway operators, warehouse owners and on commercial television.
And if everything goes in a right direction and the bill is passed in the upper house of parliament this week, that list may be joined by more companies including security cameras providers to sound equipment groups.
Some investment brokers and companies in Tokyo are very hopeful that the new gaming bill will be passed in parliament and hence they are busy making model portfolios for their clients.
Nomura, one of the biggest Brokers of the country specifies that legalization will be very beneficial for property and real estate stocks.
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