One of the key themes of the latest Experts’ Committee meeting, which advises the government on the IR implementation bill, is that the forthcoming Casino Management Board will be given robust powers to regulate the IR industry.
According to the meeting on Tuesday, the Board will be given the authority to demand reports from IR operators on their measures to prevent money laundering and to combat problem gambling. On site investigations are to be conducted.
And, in the event that legal violations are detected from operators, business improvement orders may be issued, and in more egregious cases, operations could be suspended and licenses revoked.
This powerful Casino Management Board is to be an independent agency categorized as an external bureau of the Cabinet Office. Specifically, it will be a so-called “Article 3 Committee” under the National Government Organization Act of 1948, putting it on par with the Fair Trade Commission and the National Public Safety Commission.
While the precise size and membership of the Casino Management Board remains to be spelled out, many of its employees will be lawyers and accountants, and the chairman must be approved by the parliament as a measure to ensure political neutrality.