The number of licenses that will be awards remains up in the air.
Pachinko unlikely to be a legislative focus as Japan’s IR bill takes shape.
Pachinko is a mainstay of the Japanese gambling sector, along with horse, boat, bicycle and motorcycle racing. But the future of these games are in jeopardy following reports that the government is looking to curb existing forms of gambling as part of its plan to address problem gambling before the country opens its first Las Vegas-style casino resorts.
“Given that pachinko is a homegrown industry, we are inclined to think it could actual get some form of legislative support (protection), especially in the context of the likelihood of foreign-owned IRs,” Govertsen said in a note.
Over the years, pachinko has already become more of a leisure pursuit and less like gambling. This is because the government has introduced several stringent standards for the game, including the gradual reduction in payout ratios that have eliminated the jackpots.
Asian Casino markets growing – Japan legalized casinos but they are not popular
MOST forms of gambling are banned in Japan, but many Japanese still like to have a flutter. Over ¥23trn ($203bn) is waged annually on pachinko, a noisy variant of pinball. Add in lottery tickets, plus horse, boat and bicycle racing—the only other types of betting allowed—and you have a vast industry. Pachinko players alone spend more than the combined betting revenue of all the casinos in the world’s top gambling resort, Macau.