Yakuza could Benefit from Legal Japanese Casinos

The upper house of the Japanese Diet has passed legislation that will allow three casino resorts to be built in the Land of the Rising Sun. Many gamblers within Japan are excited about the prospect of legal gaming within their country. But one thing that many people are overlooking is how legal casinos could benefit […]

The upper house of the Japanese Diet has passed legislation that will allow three casino resorts to be built in the Land of the Rising Sun. Many gamblers within Japan are excited about the prospect of legal gaming within their country.

But one thing that many people are overlooking is how legal casinos could benefit the Yakuza. In existence since the 17th century, this criminal underground features over 100,000 total members. And they could all collectively be cheering about what’s to come with Japan’s gambling market.

How would Yakuza Benefit from Legal Japanese Casinos?

Some might look at the current Integrated Resorts (IR) Implementation Bill as bad for Japanese gangsters. After all, the Yakuza makes a sizable amount of money through underground gambling dens. But there could also be some opportunity here for these criminals too.

First off, they could actually invest in the casinos and make money in this manner. The Yakuza are experts at hiding the management/ownership structures of their businesses, meaning authorities might never know what they’re investing in.

They’ll also be able to profit from offering black market loans with high interest rates to gamblers. Another money-making method involves using ID fraud to help Japanese gamblers get around the impending visit restrictions that they’ll face.

An anonymous member of the Yamaguchi-gumi yakuza gang discussed this matter by saying, “Once rules are decided on how to place restrictions on organized crime, we can begin thinking about ways to get around those legal barriers.”

Where Is Japan at with Legal Casinos?

Casino resorts must actually launch in Japan first before anybody has to worry about how the Yakuza might be involved. Currently, Japanese lawmakers are still ironing out the details, which must be established before the three resorts can open.

Of special importance is the licensing procedures. There’s no telling exactly how long it’ll take for lawmakers to the finish this process and who will receive the licenses.

Many people close to the situation believe that the country won’t officially grant licenses until 2020. Japan will then have to wait until possibly 2025 until the first casino opens for business.

 

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