Nagasaki allocates US$11.4m to IR development in 2023 budget
The prefecture has made space in its 2023 budget for its yet-to-be approved IR plans.
Japan.- Nagasaki Prefecture has allocated JPY1.52bn (US$11.4m) in its draft budget for fiscal year 2023, beginning in April, to its plans to host an integrated resort with a casino. Nagasaki applied to the national government for a licence in April of last year but is still waiting for a response alongside Osaka, the only other applicant to host a casino.
Nagasaki is working with Casinos Austria International Japan Inc as its partner for the bid and hopes to open the IR in 2027. The expected total cost for the development is JPY438.3bn (US$3.8bn), including JPY175.3bn in equity costs. However, funding has yet to be confirmed publicly.
In the 2023-2024 draft budget, Nagasaki has identified nearly JPY427.7m for its IR promotion division, a 147 per cent increase from the 2022 budget, according to GGRAsia’s Japan correspondent. Of that, JPY99m is for monitoring costs, JPY97.3m for upgrades to transportation infrastructure and JPY74.1m for planning costs related to meetings, incentives, conferences, and exhibitions (MICE) business. JPY157.3m is for measures to tackle gambling addiction, a key focus of the national government’s policy on IRs.
Other local government departments to receive funding related to the IR plans include the road construction division, the port facilities and international tourism promotion.
