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Japan Legalizes Casinos, Sets Stage for Large-scale Investment

Japan's parliament passed a law on Thursday to legalize casinos, ending 15 years of political argument and opening the way for projects that combine high-stakes gambling with hotels, shopping and conference space. As few as three casinos could generate nearly $10 billion in net profit annually, Daiwa Research Institute estimated, equivalent to 0.2 percent of Japan's gross domestic product. Still, casinos will not be in operation until 2022-23 at the earliest, gaming executives...

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