Today, the latest gambling news comes from Asia because Japan Earmarks $58.3 Million for Its Casino Management Commission. The news comes after the recent scandal where a Japanese Minister took bribes from a Chinese casino company.
Therefore, online casino experts believe it is normal that Japan would want to establish a commission as soon as possible. However, several gambling websites believe this arrest has already put a lot of pressure on the Abe administration. This is because they are responsible for legalizing casino in 2018 despite a strong opposition.
$58.3 Million for the Japanese Casino Management Commission
In October, the Japanese Parliament gave its approval to setup the Japanese Casino Management Commission. The CMC is set to go live on January 7, 2020. Furthermore, Parliament already gave its approval for the nominees that will make up its 5-person casino board. Today, the DIET gave its approval for $58.3 million for Japanese Casino Management Commission.
According to casino forums, about half of the budget will be made available to establish the CMC. The rest of the money will be put aside to run the CMC for the 2020-21 financial year.
The Japanese Casino Management Commission will be an independent agency under the Japanese Cabinet Office. Furthermore, its main task will be to monitor casinos in Japan from background checks to financial source of fund.
In addition, the job of the CMC will also include taking care of social problems from gambling. Thus, they will also take steps with normal and online casinos to prevent gambling addiction.
According to the CMC, they will select the site for 3 casino resorts that have already been chosen. According to Ray a real estate expert in Costa Rica and the world, this is great for the market in Japan.
The Japanese CMC will be under the management of a 5-member casino management committee and employ 100 people. In addition, the committee members will hold their position for 5 years under the leadership of Michio Kitamura.
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