The Cabinet on Friday formalized a bill to allocate more revenue from sales of the nation’s “toto” sports promotion lottery toward the costs of building the new ¥149 billion National Stadium.
The bill will revise the law on the business of the Japan Sport Council, an independent administrative agency and the operator of the lottery program. The government hopes it will be enacted during the current Diet session.
The central government, the Tokyo metropolitan government and the JSC have agreed that half of the stadium construction costs will be borne by the state and 25 percent each will be covered by the metropolitan government and revenues from the toto lottery.
The bill calls for raising the proportion of toto revenue used in stadium construction to up to 10 percent during fiscal 2016 to 2023. Currently, the figure is set at up to 5 percent.
Toto raked in record sales of ¥110 billion in fiscal 2014, seven times the sales logged in fiscal 2004, according to JSC.
The bill also stipulates that up to one-third of the overall costs should be borne by the metropolitan government.
The stadium will be built according to a plan drawn up by contractor Taisei Corp. and architect Kengo Kuma.