Japan plans a “total ban” on IR junkets
Following the news that the Japanese Government is making plans to limit the number of times Japanese visitors can enter casino facilities, there has been further news that officials want a “total ban” on junkets associated with the establishment of IRs.
The crackdown on the regulation of Japan’s gambling industry is due to the number of integrated resorts that the country is introducing.
The Government’s reason behind this is decision is said to lie with concerns that junkets are vulnerable to penetration by organised crime groups and specifically money laundering schemes.
The decision is expected to be codified in the Integrated Resorts Implementation Bill which is set to be unveiled in Autumn.
Japanese media sources quoted an unidentified government official as saying:“Casino operators with genuine ability should have their own capabilities to manage their customers and so intermediary businesses are not needed.”
Analysts have predicted that Japan’s gambling market would rapidly become one of the largest on a global scale, with its future value being estimated at approximately $40bn.
Both proposed pieces of legislation are aimed at preventing irresponsible gambling whilst also looking towards the prevention of criminal activities associated with the industry.
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