The Japan Casino Regulatory Commission opened public comments on 19 May regarding screening standards for proceedings such as casino licensing based on the 2016 Act on Promotion of Development of Specified Complex Tourist Facilities Areas.
Current screening criteria for casino licensing includes any connections with organized crime, disposition of the organization and its executives, and soundness of finances. With the application of laws related to the prevention of gambling addiction and money laundering, there are also regulations around the potential risk of instigating a passion for gambling and concerning mergers and casino roles when renewing a casino license.
Regarding financial basis for sound operation of a casino, the following strict criteria is presented for the applicant:
- Business risk is transparent and even in the event of a downswing in terms of casino profits, a scale of equity is maintained to continue operations into the future
- Financing must be stable and certain for the future
- Sufficient liquid assets must be maintained to stably conduct casino operations
The public comment period runs from 19 May to 17 June and the Japan Casino Regulatory Commission will establish its screening criteria by taking public opinions into consideration.
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