It was a rare taste of Las Vegas in Tokyo, and for two days, casino spectators hosted by Tokyo Governor Shintaro Ishihara flapped slot machine handles and made wild bets on roulette wheels.
While better known for his staunch advocacy for stronger and more aggressive Japanese construction, the often controversial Japanese leader has found a new cause for legalized casino-style gambling.
The country's capital is in dire need of finances. The government has lost money for four consecutive years, with a deficit of $80.65 million in fiscal 2001. Tax revenues are expected to continue to rise as they are expected to decline sharply this year
a financial slump.
The Tokyo government estimated in a report released in October 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 unemployment is at record highs, with the Japanese economy overall in a slump, banks struggling with provisions for bad debts and stock prices at 19-year lows. About a dozen mayors and governors across the country have expressed support for legislation to expand the scope of legal gambling.
Japan is not familiar with gambling. Japanese law prohibits gambling and betting, but public gambling companies are common. Gamblers can legally bet on horses, bikes, boats, and car races, and play lottery games. 무료슬롯사이트
The privately run "Pachinko" pinball is also considered a kind of gamble because it has a legal loophole and allows prize money to be exchanged. The annual prize is about $241.94 billion, about three times Las Vegas' annual income.