Casino winnings by nonresident foreigners to be untaxed in Japan

Also, as it’s tipped in the house’s favour, the casino’s profit will increase and that does get taxed.

So no tax paid, then what's the point from the government perspective? Why push an idea that degrades locals while not financially gaining from rich visitors? Doesn't seem to make sence at all.

they make money on all the other things. Food, drinks, hotel stays, shopping...

people who win big will quite often then go and spend a fair amount locally.

China, Vietnam, the US, the EU, and various crony nation win.

Goodbye for the Yakuza, your jobs are now being outsourced to foreign syndicates who run their own casinos catering to foreigners.

Goodbye for Japanese economy, an ungodly amount of tax evasion schemes will go through unpunished. Massive capital flights, like what in China for decades, will be assured in Japan.

Goodbye for Japanese manufacturing jobs, people now will head into the service industry, while women will likely go into prostitution even more.

they make money on all the other things. Food, drinks, hotel stays, shopping...

people who win big will quite often then go and spend a fair amount locally.

If it is Chinese, they will create their own town surrounding their casinos to cater their own people. It is already happening in Hokkaido, where Chinese owned all service-based assets that only cater towards Chinese tourists.

So no tax paid, then what's the point from the government perspective? Why push an idea that degrades locals while not financially gaining from rich visitors? Doesn't seem to make sence at all.

It makes sense for the Chinese in Cambodia.

Wonder how many Japanese are going to make the switch from pachinko?

It is for catering the foreigners. Especially for Chinese and Vietnamese , since they are the largest foreign population in Japan as well as the largest population of foreign labor forces. If this rule gets passed, Chinese and Vietnamese laborers/investors will use the casinos to repatriate their money back to their own countries undisturbed, legally.

https://www.japantimes.co.jp/news/2019/01/14/national/crime-legal/aichi-police-arrest-vietnamese-man-allegedly-operating-underground-bank/

Just imagine this guy will be a manager of a casino instead of operating an illegal underground bank. That is what will happen here.

LDP politician connected , amakudari stacked construction and operator companies will make billions...thats all that matters here. Cushy jobs & favors, envelopes for politicians who push this through guaranteed. Milk and honey in the land of J-Inc, why care about " local " peasants ?

Correct. However, the unrealized profits from gambling go untaxed straight into the hands of foreigners. If China gets involved, I hardly think LDP cronies will benefit much. The Chinese triads will set up casinos to cater their own workers in Japan as well as Chinese tourists. Money will go straight back into China through black crime means.

In fact, Lawrence Ho of Melco resorts & entertainment has been lobbying Japan to do this for years. He is the son of Stanley Ho, a deceased Chinese gambling boss who controlled Macau crime syndicates. If this family of crime gets involved with Japanese gambling projects, there definitely will be a lot of crimes and tax evasion. Japan won't benefit much at all!

illusion of quick riches.

@Hercolobus

"illusion of quick riches."

For some, yes. But anyone with a level head who knows the odds are in favor of the house and when to walk away will have a decent time.

Wonder how many Japanese are going to make the switch from pachinko?

So no tax paid, then what's the point from the government perspective? Why push an idea that degrades locals while not financially gaining from rich visitors? Doesn't seem to make sence at all.

Casinos are built to take in money. The house is always in a better winning condition. That's how it is set up.

"Just know when to walk away."

Famous last words for the countless who become addicts...Japan is already awash with those entombed all day in pachinko parlors. Unlike pachinko, the losses in casinos are far greater.

As pointed out above, this is all designed for the benefit of the fat cats to drain more capital from the people.

In other words, yet another LDP-endorsed money project goes ahead, at the expense of citizens.

Sven Asai Today  01:24 pm JST

If you go to the opera or a pop concert or a sports stadium match, they also entertain you , have the house advantage

I dunno, how many people bet on the opera?

25/1 says it'll be over before the fat lady sings.

But anyone with a level head who knows the odds are in favor of the house and when to walk away will have a decent time.

Odds are a tricky thing.

If you continue to play, eventually you will lose, because as you rightfully said, the odds are in favor of the house.

The odds are tricky in that if you walk away with winnings and don't come back, great you beat the odds. However, if you come ever come back (or don't leave) and bet again, then the odds will work against you.

Play enough times (that day and all other days) and the odds will always be against you, and you will lose.

I'm not much of a gambler, but most gamblers have unusual biases to justify their gambling. The best was the idea that they could "double down", i.e., bet double the amount lost so that you win more than you lose. Sounds great until you realize that there is a finite amount of money that you can bet to keep doubling down. Not to mention the odds are also against you.

The best way to gamble may be to set aside the gambling money and stop when it is gone. Enjoy the casino, free drinks, food, and don't expect to walk away a millionaire.

"It would be meaningless if no one comes to the integrated resorts after building them,

Now, there's a quote to remember.

gary

Completely unnecessary. Japan can attract more than enough visitors from it's interesting culture, sights, food and good hospitality. Casinos will just attract the sleazy.

Pretty sure this only applies to professional players.

I see, difficult to convince you here. Well, it’s not forbidden to try becoming rich with underpaid work in sinking economies instead of fortune at casinos or lotteries. Wish you luck with whatever you have chosen....lol

What was the saying? The lottery is a tax on the poor. Or was it, a fool and their money soon part friends.

And, the payout at casinos is thousands of times higher than the payout on a lottery ticket. Even with those higher odds, the casino always wins.

expatToday  11:40 am JST

"Although such resorts have yet to be established in Japan..." This is what's known as "jumping the shark"...

Actually, it's called jumping the gun. Jumping the shark is something else entirely.

Sorry, the pedant in me just had to say it.

I just don’t like those complaining statements and spreading bad image. It’s entertainment and should be considered as such. Of course the house has an advantage, as they also have to pay for building, light, water, electricity, the machines and tables, staff, taxes and also some own earnings at least. If you go to the opera or a pop concert or a sports stadium match, they also entertain you , have the house advantage and you go with nothing than memories home every time, while here you have a chance for winning additional money up to 47% in average if you know how and educate yourself a little , something you’ll find almost nowhere else in your other leisure time activities.