Japan’s pachinko industry covers its balls in the face of impending regulation
Over in Japan, the government is looking to restrict existing gambling establishments – including the $200bn pachinko industry – as it prepares to welcome casinos in its jurisdiction.
Bloomberg reported that the move was part of the government’s plan to tackle gambling addiction even before country adds Las Vegas-style casino resorts and could see a new regulator set up to oversee the sector.
“Companies in any sector prefer to regulate themselves, being bound by legislation is bad for business,” said Kazuaki Sasaki, associate professor in the department of international tourism at Toyo University. “Although the increase in costs will hurt the industry in the short term, they’re necessary to ensure its long-term survival.”
Pachinko is Japan’s favourite gambling activity, with some 23.3 trillion yen (US$209 billion) wagered in parlours in 2015, around four percent of Japan’s GDP.