Nagasaki prefectural assembly approves final IR plan
The final draft of Nagasaki’s IR District Development Plan has been approved by the prefectural assembly.
Japan.- The Nagasaki Prefectural Government has voted in favour of the final draft of the IR district development plan. The integrated resort proposal must now be submitted to national government before the April 28 deadline.
The proposed casino resort would be located within the Huis ten Bosch theme park in Sasebo City. The planned cost for the development of the IR is JPY438.3bn (US$3.8bn), including JPY175.3bn in equity costs. Sasebo City Council had already voted to support Nagasaki’s IR district development plan on Friday.
The IR program update only mentions Nagasaki’s private sector partner Casinos Austria International Japan Inc as an equity investor although last week, CBRE Group Inc, a US commercial real estate services and investment firm, was reported to be involved in funding the IR project.
Of the total cost, JPY263bn will come from debt. No mandated lead arrangements have been identified in the published documents.
Wakayama Prefectural Assembly has rejected its IR plan, leaving Nagasaki and Osaka as the only likely applicants to host a casino report in Japan in this first phase of liberalisation. The central government had said it would issue up to three licences.
