Japan Rolling Snake Eyes?

Investment newsletter The Motley Fool recently published an article speculating that Japan’s “dream” of legalizing casinos before the Tokyo Olympics in 2020 may be dead.

Photo: AP Photo / Matt Rourke

Though for a while the legalization of casino resorts seemed a sure thing, delays in passing the proper legislation to pave the way for gambling have stalled momentum. The Fool says it may be too late, even if legislation were to be passed soon

. “The Olympics are a huge international draw that would have brought billions in industry-boosting gaming dollars,” the article says, but then cites other similar-minded projects and how long they took.

The Marina Bay casino resort in Singapore took four years from the time Las Vegas Sands won the bid until the resort opened, and that doesn’t include the year it took for the Singapore government to legalize gambling.

The Olympics will come to Japan in five years and three months, yet the national assembly hasn’t even finished drafting a bill.

“For gaming companies, that’s bad news,” the article goes on, “especially with business in Macau slowing down and few opportunities for investment opening up.”