Politicians in Japan have come to an agreement on the taxation of gambling revenue, with the country planning to tax casinos 30% in terms of gaming revenues.
The decision will see land casinos in Japan being taxed at 30%, with gaming space being capped at 3% of the overall resort space for a company. One of the initial proposals saw casinos being charged as much as 50%, so the 30% rate is a bit of a compromise. The timeline of this tax rate will go for the next seven years, so operators will be locked in for the short term.
One remaining issue is entrance fees for patrons entering the casinos. The two majority parties are discussing what to charge, with the highest proposed fee being $75, while the LDP party is proposing a $48 rate. Others have proposed a rate as low as $20.
Legislators okayed casino gambling for the first time in Japan's history last year, and the government is currently working to finalize the laws in order to launch a betting industry in the early 2020s.