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Japan\u2019s Political Funds Control Law prohibits donations, political or otherwise, by foreign citizens or companies.<\/p>\n<\/div>\n
The Times<\/em> declines to name the lawmakers involved, but mentions some were members of a cross-party group that focused on promoting international tourism, according to the source.<\/p>\nBad Optics<\/strong><\/h2>\nWhile the legalization of casinos has long been promoted by Japan\u2019s coalition government as a means of revitalizing the country\u2019s economy by boosting foreign tourism, the idea has been consistently unpopular with the public, and these are exactly the kind of optics the government could do without.<\/p>\n
Public perception already exists that the international casino giants vying for a piece of the Japanese market will bring more social problems, while channeling the monetary losses of domestic gamblers out of the country.<\/p>\n
Yukio Edano, leader of the Constitutional Democratic Party of Japan, told The Times<\/em>\u00a0last year that this \u201cselling off of the country\u201d was \u201cakin to treason.\u201d<\/p>\nRise and Fall<\/strong><\/h2>\nOn December 31, 500.com announced it had set up a special investigation committee to examine the bribery scandal. It also announced its chairman,\u00a0Xudong Chen, had resigned, while its president and CEO, Zhengming Pan, had been suspended, pending the result of the investigation.<\/p>\n
500.com set up a subsidiary in Tokyo in July 2017 to pursue a casino resort project in the ski-resort village of Rusutsu in Hokkaido. But Hokkaido pulled out of the casino race in late November because of concerns about the impact construction might have on the local environment.<\/p>\n
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500.com was one of two companies granted approval by the Chinese government in 2013 to operate an online version of China\u2019s hugely popular sports lotteries.<\/p>\n<\/div>\n
This was the kind of contract that opens the door to the Nasdaq. But Beijing\u2019s decision to pull the plug on the project two years later spelled disaster for 500.com.<\/p>\n
The company has since attempted to diversify by buying several European online casino websites and, it hoped \u2013 allegedly \u2013 a piece of a Japanese casino market that is expected to quickly become the second- biggest in the world, after Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Nasdaq-listed Chinese gambling company suspected of bribing a senior Japanese politician may have paid kickbacks to five other lawmakers. The goal was to grease the skids on its casino bid, according to a former consultant. This follows the arrest on Christmas Day of LDP Representative Tsukasa Akimoto over allegations that he accepted illegal payoffs […]<\/p>\n","protected":false},"author":36,"featured_media":123443,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069],"tags":[],"acf":[],"yoast_head":"\n
More Japanese Lawmakers Entangled in 500.com Casino Bribery Scandal<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n