As the casino industry approaches Japan, Nagasaki is set to push for an IR bid and has announced it would open a venue by 2024.
Japan.- Many Japanese regional governments are looking into the potential development of an integrated resort (IR) within their jurisdiction as the central government sets the final regulations required. Nagasaki is one of the prefectures studying the possibility and has announced it would open its doors by the end of 2024, should it get a licence.
The prefectural government’s IR Promotion Office made the announcement before the prefectural assembly and revealed it would establish a “review committee” shortly after the IR guidelines are published. The committee would be integrated by ten legal and financial experts who would select the prefecture’s operator partner.
There are about twenty operators interested in bidding for a project, the Nagasaki government says. One operator in particular is potentially interested in investing €3.2 billion in a Huis Ten Bosch-linked development.
Besides Nagasaki, Osaka is one of the front-runners for an IR licence (but in the short term) and, according to experts, a potential venue would have a great impact in the region’s economy.
Japanese brokerage Nomura assessed that the Osakan economy would be boosted hugely by a potential IR bid win, as well as if the region wins the bid to host the World Expo in 2025. “A win for both the World Expo bid and the casino licence would be expected to boost investment returns and have a positive impact on Osaka’s economy,” the brokerage said in a recent note.