Japanese lawmakers legalise casinos in long-awaited decision

Members of parliament in Japan have passed legislation which allows businesses in the country to open casinos for the first time, including international gaming firms such as Wynn Resorts, MGM Resorts and Caesars.

The bill was approved on Thursday by the country's lawmakers, after having been backed by prime minister Shinzo Abe.

The hope from the government is that the change will bring more tourism and stimulate the Japanese economy, which has been in dire straits in recent times.

With no rules existent yet regarding the regulation of such an industry, experts say it could take another six years for casinos to open in the country.

Wynn's senior vice president of marketing Michael Weaver said that when casinos do open they will stimulate income in the economy.

"We have been very active in Japan, meeting with key leaders in business and the government to understand the local needs and desires for integrated resorts," Weaver said.

There was plenty of opposition to the bill in the Asian country, notably from Abe's opposite number, Renho Murata.

"This won’t generate any added value whatsoever. Where is the growth strategy in this?" Renho asked in a parliamentary session last week.

Japan already has gambling in a wide variety of other forms, such as lotteries, horse racing, other sports betting.