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Gambling in Japan - Essay Example

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Gambling has been a common culture in form of betting in Japan since the olden days. Although, in earlier days the presence of casinos was hardly there; other betting activities such as horse racing, boat and bicycle racing, lottery, Toto, mahjong and even pachinko were common amongst Japanese. …
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Gambling in Japan
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Download file to see previous pages With around more than 4000 casinos worldwide, they currently are illegal in Japan; however, the prospect of having casinos established in Japan is not as alien as some people might think it is. Casinos are just a place located in hotels, restaurants, tourist spots and even cruises that accommodate all the gambling activities under one roof. Casinos are not virtual in Japan but this is the country that originated some of the famous game such as keno; online gaming facilitates this game service.
Q1) The governor of the ultra right-wing Shintaro Ishihara of the Japanese government has been trying to make casinos legal in Japan (Yang, 2006). If he becomes successful, Japanese can themselves invest in such casinos and form wholly-owned casinos of their own. However, keeping the current dilemma of the Japanese government of legalizing casinos in mind, it is easy to conclude that no Japanese will be ready to invest all his capital in such a risky business. Considering the fact that Japan is a big market for casinos, especially in Tokyo and Osaka, the US based gaming company called ‘The Gamblers’ has decided to accept the jeopardy and plough a large sum of money into casinos in Japan. The company initially had franchising in mind; but after assessing that no Japanese was ready to become the franchisee due to the risk involved, The Gamblers had to drop the plan. It was then finally decided to form a subsidiary in Japan. Since, The Gamblers will form a subsidiary from the scratch; this investment is technically called a Greenfield venture. The advantage of this type of an investment is that The Gamblers can have whatever culture it wishes; it will keep the same structure as that of US’s and when everything is run the way we wish, high profitability is likely to occur. However, there are disadvantages attached to this too - The Gamblers will have to study the Japanese market in great depth, will need to acquire information about the market, laborers, materials, people and culture; mistakes are inevitable. The best part remains; the US Gambler will have total control over the activities. However, it was decided by the US top level management of The Gamblers that later on if any Japanese would be interested in buying shares/investing and gaining some control over the casino, US management will be open to that. It is anticipated that Japanese will be interested in investing in the casino as it will be an innovative area with a big market to invest in.
Q2) For a fact, the market demand for casinos in Japan is extremely high. Not only people but some government officials such as Ishihara are working for the legalization of casinos. According to a news article in Singapore, the Japanese gaming adviser has held talks with global casino owners such as Las Vegas Sands and Harrah's Entertainment to become Japan's first ever casino. Japan chose Las Vegas Sands because it has made an investment in Singapore too; however, it is The Gambler's aim to make sure that they become the first ever legal global casino.
The Japanese market is definitely lucrative because not only is the public in favor, but even the government is inclined towards lifting the ban. The government has a tourist perspective in mind - casinos usually attract the tourist influx, causing a rise in foreign exchange earnings. Apart from the tourists, there are about 128 million people who are ready to spend money on this form of entertainment. According to a survey to find out whether people support the ban lift of casinos in Tokyo, out of a sample of 13,236 people, 32.4% supported the legalization, 21.0% opposed it, 44.9% did not know and 1.8% did not answer (Ken Y-N, 2007). With the highest per capita income in Asia of $39,195 which ...Download file to see next pagesRead More
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