Analysts are still debating the finer points of what Japan’s nascent casino gambling market will look like, but the discussion may be a moot point. After the country’s national elections earlier this month dealt the ruling party a decisive loss, there may be no casino market at all.

Following the passage of the first enabling legislation last year by Japan’s national legislative body, it looked as though casinos were on the fast track to approval. From tax rates and where casinos would be sited to which casino operator will win a new license when they’re issued, there has been a lot of talk about how Japan will legislate gambling houses.

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