Japan Earmarks $58.4M for Setting Up and Operating Casino Management Commission
The Japanese government has allocated a budget of Japanese Yen (JPY) 6.4B (approximately $58.4M) for setting up and operation of its casino management commission.
Out of the JPY 6.4B, a sum of JPY 2.6B will be allocated for establishing the commission in current fiscal and the remainder $3.8B will be allocated for running it in the financial year 2020–21.
Japan legalized casino gambling in July 2018 and is currently in the process of setting up structures to regulate and monitor it.
The Casino Management Commission will act as an independent agency under Japan’s Cabinet Office. It will monitor casino operators, including their background checks, source of funds, etc. It will also take steps in coordination with the best Japanese online casinos to prevent gambling addiction among users.
The Commission will select the sites for 3 Integrated Resorts allowed currently. The Japanese government will release the criteria under which the Commission will be selecting the sites by March 2020.
The Casino Management Commission will be managed by a 5-member Casino Management Committee and it will have a staff of 100 personnel.
The Committee will be established on January 7, 2020. The Japanese Parliament has already approved the names of the five members of the Committee. All the members of the Committee will have 5-year terms.
The Committee will be headed by Michio Kitamura, who has earlier served as Fukuoka High Prosecutor General and inspector general of legal compliance in the Defence Ministry.