Japan lawmakers debate gambling bill

|By:, SA News Editor

Lawmakers in Japan have reopened debate on allowing casino gambling.

The effort to approve casino development has the support of Prime Minister Shinzo Abe's Liberal Democratic Party, but will need extra votes from members of coalition partner Komeit to pass.

The initial bill being considered is a "decriminalization" law, while a casino gambling implementation bill will follow if the initiative stays on track.

CLSA thinks Japan could generate $40B in annual gambling revenue.

Casino operators with an eye on Japan include Galaxy Entertainment (OTCPK:GXYEF), Melco Crown (NASDAQ:MPEL), SJM Holdings (OTCPK:SJMHY, OTCPK:SJMHF), Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN) and MGM Resorts (NYSE:MGM).

Related ETF: BJK.