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Analysts are still debating the finer points of what Japan's nascent casino gambling market will look just casino it, but the discussion may be a moot point. After just casino it 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 just casino it 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 just casino it they're issued, there has been a lot of talk about just casino it Japan will legislate gambling houses.

WYNNfor example, was an early favorite click the following article win a license, but a legal battle with a Japanese businessman and a smaller percentage of square footage devoted to meetings, click to see more, conventions, just casino it exhibitions put it at a disadvantage, and now Las Vegas Sands NYSE: MGM are the front-runners.

Conversely, the possibility of strict identification requirements such as submitting Social Security numbers each time you enter a casino might serve to dampen enthusiasm on their acceptance. Yet all of this might be much ado about nothing. Legislators had already just casino it dragging their feet on introducing enabling legislation for casino operations, pushing back any bills till later this year and delaying the plans anyone had of getting to work right away.

Now all just casino it these grand plans may be for naught. Prime Minister Shinzo Abe's Liberal Democratic Party suffered big losses in elections held in Tokyo earlier this month, losing nearly two-thirds of the seats it held. On the surface, the local electoral defeat should change nothing nationally, but the crushing losses by the LDP could signal risk countrywide as Tokyo's elections are seen as an indicator of national sentiment.

Previous elections where the LDP lost big resulted in similar results nationally. The only saving grace is visit web page this time, no national referendum need be held until lateso the LDP-controlled Just casino it could still pass a casino bill.

The risk, though, is that large percentages of Japan's population are opposed to making casinos legal because the country has higher rates of gambling addiction than do other countries.

The casino legalization bill click passed last December was already a highly contentious piece of legislation and was passed only because of the large majorities held by the LDP.

But opponents may now become more emboldened to take on Abe and the LDP on the casino bill while party members may become more reticent. It's possible Japan's legislature could still pass the bills needed to make casino gambling a reality, and all of the jockeying for position and finer points of regulation will be a necessary part of the dialogue to make the country the most expensive casino market in the click the following article. However, this crushing electoral defeat for the ruling party, though seemingly local in nature, decreases the odds that a casino bill will see the light of day.

Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any just casino it the stocks mentioned. The Motley Fool has a disclosure policy. Rich has been a Fool since and writing for the site since just casino it After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe just casino it Truth, Justice just casino it Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories. Skip to main content The Motley Fool Fool. Stock Advisor Flagship service. Rule Breakers High-growth stocks. Income Investor Dividend stocks. Hidden Gems Small-cap stocks.

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