Nagasaki asks Casinos Austria for details on IR plan

Some have raised questions about how Casinos Austria International Japan will finance the proposed IR.
Some have raised questions about how Casinos Austria International Japan will finance the proposed IR.

The Nagasaki Prefectural Government has asked Casinos Austria International Japan Inc to present a point-by-point plan of the consortium’s structure and how it will raise funds before the end of October.

Japan.- After a new meeting on Casinos Austria International Japan Inc plans for the development of an integrated resort in Nagasaki, authorities have requested that the operator provide a detailed plan of its consortium’s construction and to explain how it intends to raise funds.

Some at the meeting expressed doubts about the capacity of Casinos Austria International Japan to finance for the IR development. The planned total investment for the IR development is JPY350bn (US$3.2bn). The group plans to build eight hotels, conference and exhibition facilities and a variety of dining and retail options.

The company said the resort would feature 220 gaming tables and 2,200 slot machines. It would create nearly 30,000 jobs and attract up to 8.4 million visitors a year to the Sasebo venue.

The Nagasaki Prefectural Government has previously said it expects the IR to open in 2027 and to generate annual gross gaming revenue (GGR) of JPY150bn (US$1.37bn). The prefectural government is due to present a draft of its IR development plan in November. After the presentation, there will be a period for public remarks.

Japan relying on IRs to boost tourism

Fumio Kishida, Japan’s prime minister, is committed to boosting tourism and integrated resorts as having a key role in the process. Tetsuo Saito, Japan’s minister of land, infrastructure, transport and tourism has said the country hopes to receive 60 million inbound visitors by the year 2030. He sees IR policy as vital.

Saito said: “To meet the target, the government as a whole will make every effort. Especially, it is putting importance on the measures to expand average spending per visitor and to extend the length of stay per visit.”

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