MK sports-Telsey Consulting Group: It is estimated that Japan’s gaming industry generates $23.8 billion in tax revenue for the country each year

MK sports-Telsey Consulting Group: It is estimated that Japan’s gaming industry generates $23.8 billion in tax revenue for the country each year

Chris Jones’s analysis report titled “The Huge Potential of Japan’s Gambling Market” covers a lot of things, including how much tax revenue the Japanese gaming industry will bring to the government in the future.

Chris Jones, a senior consultant from Telsey Consulting Group, recently published a 44-page analysis report titled “The Huge Potential of Japan’s Gambling Market”. Jones estimates that Japan’s gaming industry will bring $23.8 billion in tax revenue to the country each year, accounting for 0.4% of its total GDP. This is not much different from the proportion of casino tax revenue to total GDP in the United States.

Although 23.8 billion is an optimistic figure, a conservative estimate is that there will be 16.5 billion US dollars, most of which may come from Tokyo, because Tokyo’s market size can build two casinos. One costs 8 billion, and the other spans Tokyo Bay and is slightly smaller. These two casinos will bring the government 10 billion US dollars in tax revenue each year.

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Meanwhile, a $6 billion casino in Osaka would generate $3.8 billion in tax revenue for the government each year if it were put into operation, and building some large regional casinos in Hokkaido and Kyushu would also generate $1.8 billion in revenue for the government each year.

However, Jones said that the development of Japan’s casino industry will also encounter many obstacles. First, the government has set a goal: the number of tourists in the country will exceed 18 million in 2016 and increase to 25 million by 2020. Even if the right to host the 2020 Olympics is obtained, this goal will be difficult to achieve.

Jones also pointed out how city casinos would affect the economic development of surrounding areas. The analysis also mentioned that Japan would take away one-third of South Korea’s gaming market share, which would force South Korea to adopt a more relaxed policy on “local residents’ participation in gambling games.”