When Japan’s parliament legalized casino gambling last year, it created a wave of excitement among casino operators and institutional investors. But sensitivities about gambling addiction have now focused the policy discussion on a concept known as responsible gaming. This is industry terminology for programs designed to deter customers with known gambling problems from entering casinos. Although well-intentioned, lawmakers are risking a litany of unintended consequences with these policies.
Casinos could be an economic boon for Japan. By one estimate, they could bring in $25 billion a year in revenue. Yet lawmakers are now considering restrictions that could jeopardize those benefits. These include banning cash machines on…
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