The house always wins. This gaming industry truism has Japan racing to become the latest Asian economy to bet on casinos.
Yes, lawmakers have been angling to build so-called integrated resorts for years now. It seemed like a done deal back in 2009 and 2011, when previous governments pitched Las Vegas-ization as the quickest way to morph Japan into a tourism mecca and create jobs. The debate went cold, though, as critics warned of social costs eclipsing public revenue, including gambling addiction, crime and surging bankruptcies.
While valid concerns, they ignore how gambling is already one of Japan's biggest industries. Administrative desensitizing enables 127 million people to pretend those ubiquitous pachinko parlors, cycling tracks, horse-racing stadiums and boat-racing circuits aren't betting businesses. Never underestimate the power of collective denial.