Child Subsidy Scheme may Fund Casino Gambling in Japan
Pachinko Parlour
The Times has reported that a “child subsidy scheme” proposed by the Japanese government may mean more parents spend their time gambling in the country’s casinos. The government will pay parents £97 a month for each child they have, with this figure increasing to £171 in the second year of the new benefits scheme. While the money is meant to be spent on children’s items, such as food, clothes and nappies, critics believe the extra cash will actually be spent in Japan’s pachinko parlours, which offer slots-style casino games.
While the gambling parlours which operate in Japan are neither legal nor illegal and consequently do not feature on the stock market, analysts are allegedly advising investors to purchase shares in the country’s main pachinko games manufacturers, including SegaSammy and Aruze. The Times has observed that in 2009, when the Japan government offered £140 in “cash handouts” for families, which was intended to improve retail spending, slots stocks were “the best-performing equities in the market over the following six months”. Critics of the scheme suggested the families benefit money should be given out in the form of vouchers, not cash paid directly into the father’s bank account.
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