The prefecture has made space in its 2023 budget for its yet-to-be approved IR plans.<\/p>\n\n\n\n\n\n\n\n
Japan.- Nagasaki Prefecture has allocated JPY1.52bn<\/strong> (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<\/a>, the only other applicant to host a casino. <\/p>\n\n\n\n Nagasaki is working with Casinos Austria International Japan Inc<\/strong> as its partner for the bid<\/a> and hopes to open the IR in 2027. The expected total cost for the development is JPY438.3bn (US$3.8bn)<\/a>, including JPY175.3bn in equity costs. However, funding has yet to be confirmed publicly.<\/p>\n\n\n\n In the 2023-2024 draft budget, Nagasaki has identified nearly JPY427.7m for its IR promotion division<\/strong>, a 147 per cent increase from the 2022 budget, according to GGRAsia\u2019s 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. <\/p>\n\n\n\n Other local government departments to receive funding related to the IR plans include the road construction division, the port facilities and international tourism promotion.<\/p>\n","protected":false},"excerpt":{"rendered":" The prefecture has made space in its 2023 budget for its yet-to-be approved IR plans.<\/p>\n","protected":false},"author":176,"featured_media":16992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Nagasaki Prefecture has allocated JPY1.52bn (US$11.4m) in its FY2023 budget for its proposed Integrated Resort (IR) and casino, pending national government licensing. This includes a 147% increase for its IR promotion division, with funds earmarked for infrastructure, MICE, and gambling addiction countermeasures. The prefecture, partnered with Casinos Austria International Japan Inc, awaits national approval alongside Osaka for a targeted 2027 opening.","focusai_entities":"Nagasaki Prefecture, Casinos Austria International Japan Inc, Osaka, GGRAsia","focusai_location":"Japan, Nagasaki, Osaka","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Funding Confirmation","query":"What specific financial instruments or guarantees are Nagasaki Prefecture and Casinos Austria International Japan Inc. pursuing to publicly confirm the JPY438.3bn total development cost, particularly the JPY175.3bn in equity, given the current budget allocation is primarily for promotion and monitoring?"},{"label":"Regulatory Approval Impact","query":"How might the national government's delayed IR licensing decision for Nagasaki and Osaka impact the projected 2027 opening timeline and the financial viability of the proposed developments, especially concerning escalating construction costs and investor confidence?"}],"footnotes":""},"categories":[157,16338],"tags":[23632],"class_list":["post-777002476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777002476"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002476\/revisions"}],"predecessor-version":[{"id":777002507,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002476\/revisions\/777002507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16992"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}