Tokyo Governor Pushes for Casinos

It was a rare taste of Las Vegas in Tokyo, and for two days, a casino crowd hosted by Tokyo Governor Shintaro Ishihara made a wild bet on roulette wheels, flapping slot machine handles.

Though better known for his tough advocacy for stronger and more aggressive Japanese construction, the often controversial Japanese leader has found a new cause: legalized casino-style gambling.

The capital city of Japan is in dire need of money. The Japanese government is in deficit for the fourth consecutive year and recorded a deficit of $80.65 million in fiscal 2001. It is expected to continue to increase as tax revenues are expected to drop sharply this year a financial slump.

In a report published in October, the Tokyo government estimated that building casinos could generate $733.87 million in casino revenue, $177.41 million in tax revenue, and 13,800 jobs.

Mr. Ishihara is not alone in courting casinos, as the overall Japanese economy remains in a slump, banks are suffering from bad debts, and stock prices are at a 19-year low, with unemployment at an all-time high. About a dozen mayors and governors across the country have voiced their support for legislation to expand the scope of legal gambling. 바카라사이트

Japan is no stranger to gambling. Japanese laws prohibit gambling and betting, but public gambling companies are common. Gamblers can legally bet on horses, bikes, boats, and auto races, and also play lottery games.

The privately run "Pachinko" pinball is also considered a kind of gamble because a legal loophole allows for the exchange of prize money. The annual prize money amounts to about $241.94 billion, about three times Las Vegas' annual income.