Newly-established regulators in Japan have reportedly sought the federal government for additional funds so they may hire more people and better manage license issuance. The country’s upcoming casino industry.
As reported by Inside Asian Gaming, the request comes at a time when regions around the island nation, such as Wakayama Prefecture and Nagasaki Prefecture, are getting ready to submit bids for one of three upcoming integrated casino resort licenses. They said that these 30-year permits will allow the winning contenders to build and run Las Vegas-style resorts with several hotels, exhibition facilities and massive gaming floors in accordance with the source’s information.
When it was inaugurated in January, the new Casino Management Board was tasked with issuing the three gambling permits and implementing guidelines to help curb the growth of problem gambling. In the past, the group was given a budget of about $37.3 million for the year 2022, but it has reportedly requested an increase of nearly 9 percent to a figure closer to $40.7 million presently.
In 2022, the Casino Management Board plans to spend about $28.7 million on administrative expenses such as personnel, which is about $1.2 million more than its previous budget, according to reports. The board is led by a five-member executive that includes Michio Kitamura, the former Legal Compliance Inspector General for Japan’s Ministry of Defense. An additional $3.6 million is reportedly being set aside by the regulator in 2017 for building and operating a comprehensive information management system, which would include various cybersecurity and security measures at casinos.
Casino Management Board also revealed that it wants to set aside around $4.2 million in the coming year for increasing its ability to thoroughly review any bids and scrutinize possible partner operators when asking for the additional funds. Watchdogs claim that in 2022, they’ll need about $2.3 million to send their staff on fact-finding missions to other countries, on top of the $1.8 million they’ll need to pay for the costs of examining and certifying casino-related device makers.
The Integrated Resort Implementation Bill was passed by the coalition government of former Prime Minister Shinzo Abe in July of 2018 in order to start a program for the licensing of three large integrated casino resorts. As a result of this same law, the Casino Management Board and its subordinate regulatory oversight division were both established, and the latter’s staff is now poised for growth, with plans to hire up to 160 full-time inspectors in the near future.