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Aquis Save Face Time—–Even Japan to allow Casinos , and Cairns will get left behind——Casinos in Asia (2): Place your bets | The Economist—————-Liberalisers also argue that casinos will boost Japan’s earnings from foreign tourists and, more important, rapidly deliver a tax windfall to the heavily indebted government. A Japanese business magazine, Toyo Keizai, has argued that “Japan is being left behind” as neighbouring countries rush to build lucrative gambling resorts, combining casinos with luxury hotels, shops and cultural attractions

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Liberalisers also argue that casinos will boost Japan’s earnings from foreign tourists and, more important, rapidly deliver a tax windfall to the heavily indebted government. A Japanese business magazine, Toyo Keizai, has argued that “Japan is being left behind” as neighbouring countries rush to build lucrative gambling resorts, combining casinos with luxury hotels, shops and cultural attractions.

Indeed it is: countries across the Asia-Pacific region have abandoned their hostility to gambling and are welcoming the big global casino groups. In July it emerged that Stanley Ho’s son Lawrence, also a casino mogul, had reached a deal to open a casino near Vladivostok in Russia’s far east. Vietnam is looking to boost foreign tourism by expanding its casinos, and proponents of gambling are making headway in Sri Lanka and Taiwan.

In July Australian lawmakers approved a proposal by James Packer, a billionaire businessman, to open a second casino in Sydney. His firm, Melco Crown Entertainment, runs casinos in Macau with the younger Mr Ho. They are also partners in a casino now being built in the Philippines. Mr Packer has said he is also keen to move into Japan as soon as it liberalises. He will face competition closer to home: Tony Fung, a Hong Kong tycoon, plans to build a gambling resort in Queensland

 

 

 

 

Casinos in Asia (2): Place your bets | The Economist.

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