Gambling in Japan Essay Example | Topics and Well Written Essays - 1250 words

Gambling in Japan - Essay ExampleWith around more than 4000 casinos worldwide, they currently ar illegal in Japan however, the prospect of having casinos established in Japan is not as unknown as approximately people might think it is. Casinos are just a place fit(p) in hotels, restaurants, phaeton spots and even cruises that accommodate all the gambling activities under one roof. Casinos are not virtual in Japan but this is the country that originated some of the famous game such(prenominal) as keno online gaming facilitates this game service.Q1) The governor of the ultra right-wing Shintaro Ishihara of the Japanese political relation has been try to make casinos legal in Japan (Yang, 2006). If he becomes successful, Japanese can themselves invest in such casinos and form wholly-owned casinos of their own. However, keeping the current dilemma of the Japanese government of legalizing casinos in mind, it is easy to conclude that no Japanese will be ready to invest all his capit al in such a risky business. Considering the fact that Japan is a big market for casinos, especially in Tokyo and Osaka, the US based gaming company called The Gamblers has decided to accept the jeopardy and plough a large unification of money into casinos in Japan. The company initially had franchising in mind but after assessing that no Japanese was ready to become the franchisee due to the risk involved, The Gamblers had to drop the plan. It was then finally decided to form a subsidiary in Japan. Since, The Gamblers will form a subsidiary from the scratch this investment is technically called a Greenfield venture. The advantage of this type of an investment is that The Gamblers can have whatever culture it wishes it will keep the comparable structure as that of USs and when everything is run the way we wish, high profitability is likely to occur. However, thither are disadvantages attached to this too - The Gamblers will have to study the Japanese market in big(p) depth, will need to acquire information around the market, laborers, materials, people and culture mistakes are inevitable. The best grapheme remains the US Gambler will have total control over the activities. However, it was decided by the US top level management of The Gamblers that later on if any Japanese would be enkindle in buying shares/investing and gaining some control over the casino, US management will be open to that. It is anticipated that Japanese will be interested in investing in the casino as it will be an innovative area with a big market to invest in.Q2) For a fact, the market demand for casinos in Japan is extremely high. Not only people but some government officials such as Ishihara are working for the legalization of casinos. According to a news obligate in capital of Singapore, the Japanese gaming adviser has held talks with global casino owners such as Las Vegas litoral and Harrahs Entertainment to become Japans first ever casino. Japan chose Las Vegas Sands because it has made an investment in Singapore too however, it is The Gamblers aim to make sure that they become the first ever legal global casino.The Japanese market is definitely lucrative because not only is the public in favor, but even the government is inclined towards lifting the ban. The government has a tourist perspective in mind - casinos usually attract the tourist influx, causing a rise in foreign exchange earnings. Apart from the tourists, there are about 128 million people who are ready to spend money on this form of entertainment. According to a survey to find out whether people support the ban lift of casinos in Tokyo, out of a sample of 13,236 people, 32.4% supported the legalization, 21.0% opposed it, 44.9% did not know and 1.8% did not answer (Ken Y-N, 2007). With the highest per capita income in Asia of $39,195 which